omniture

Fosun Intends to Increase Stake in the Leading German Fashion and Lifestyle Brand TOM TAILOR Holding AG to Up to 30%

2016-01-08 11:01 5199

HONG KONG, Jan. 8, 2016 /PRNewswire/ -- Fosun International Limited (HKEx stock code: 00656), intends to increase its stake in TOM TAILOR Holding AG (TOM TAILOR GROUP) to more than 25%, but below 30%. To this end, Fosun has entered into an arrangement with a private seller, pursuant to which additional shares in the company, subject to the obtainment of all regulatory approvals, including antitrust approval in the relevant jurisdictions, will be purchased.

Fosun's shareholding in TOM TAILOR GROUP will be held directly and indirectly through its subsidiaries. Fosun sees the additional share purchase as a way to strengthen its position as a long-term strategic anchor investor in the company.

"We see the TOM TAILOR GROUP being on the right path. It is not only as an established player in the textile market, but is also continuing to grow sustainably. The company has a proven business model and a clear brand alignment. With the recently announced focus on its core business, management has taken the right measures," said Wang Qunbin, President of Fosun. "We are convinced of the profitability of the company and the value of our commitment to the TOM TAILOR GROUP."

This investment continues Fosun's investment model of "Combining China's growth momentum with global resources." As a leading investment group taking roots in China with a global foothold, Fosun and the funds under its management are involved in a number of well-known brands in the consumer goods sector, including the renowned Greek retail group Folli Follie, the US upscale female apparel brand St. John, and the Italian premium menswear manufacturer Caruso. Currently, the brands in the consumer goods and consumption upgrade sector are an essential focus of investment for Fosun.

About Fosun

Fosun was founded in 1992 in Shanghai. Fosun International Limited (00656.HK) was listed on the Main Board of The Stock Exchange of Hong Kong Limited on July 16, 2007. Fosun has been persistently taking roots in China and investing in China's growth fundamentals. It has been actively implementing its investment model of "Combining China's Growth Momentum with Global Resources". Fosun is dedicated to making a major stride towards becoming a world-class investment group underpinned by the twin drivers of "insurance-oriented comprehensive financial capability" and "global industrial integration capability taking roots in China". Today, Fosun's businesses include two major segments, integrated finance and industrial operations. For more information, please visit www.fosun.com.

Source: Fosun International Limited
Related Links:
collection