Fosun Group Intends To Invest 84 Million 580 Thousand Euros In Greek Fashion Brands.

In May 19th, Fosun Group will buy all the new issue of Folli Follie group. Shares And become a shareholder of Folli Follie. The two sides will sign a memorandum of strategic cooperation for this purpose.

It is reported that, at the price of 13.30 euros per share, it will purchase 6360000 shares of common stock issued by Folli Follie, with a total purchase price of about 84 million 588 thousand euros. Fosun mainly uses itself. capital Some of the investment comes from Fosun's asset management business.

After the completion of the acquisition, Fosun will own 9.5% stake in Folli Follie group, thus becoming one of the largest strategic investors of Folli Follie group. The largest shareholder of Folli Follie group is still Koutsolioutsos family, with a shareholding ratio of 37%.

The cooperation has yet to be approved by the Folli Follie group's shareholders' meeting in May 26th for 2/3 votes.

Folli follie group is a comprehensive one. retail In addition to the two fashion chain brands of Folli Follie and Links of London, the group also covers a wide range of retail, general merchandise, duty free shops and other fields. Therefore, in addition to the issuance of the shares, Fosun and Folli Follie group also discussed the connotation of strategic cooperation.

"We believe that as long as both sides adhere to the foundation of mutual trust and cooperation, the content of strategic cooperation will be long-term and extensive. For the time being, there are opportunities in Folli Follie group's expansion of China's business, bilateral cooperation and investment opportunities. " Fosun said.

It is understood that the Folli Follie group is listed on the Greek Athens stock exchange, and is also a world-famous fashion brand. Its tentacles cover 28 countries and regions in the world, with more than 700 sales outlets and over 5900 employees worldwide. Folli Follie group's fashion brand business involves the multi industry chain of fashion industry, including product design, production, wholesale, retail and other links. In 2010, the company's turnover was about 989 million euros, with a net profit of about 85 million euros.

Folli Follie's own business fashion brands include Folli Follie and Links of London, which is one of Princess William's wedding jewelry suppliers. The products of these two brands cover many series of jewelry, watches, accessories, gifts and so on.