FRANCE: Calida Group takes full control of Lafuma
Swiss clothing group Calida has increased its controlling stake in French outdoor clothing and equipment firm Lafuma.
Calida, which as well as its namesake brand owns high-end lingerie label Aubade, now owns a 60% share the company, up from 50.6%.
Lafuma's second capital increase of EUR10m (US$13.6m) is expected to launch within the next few days, but is subject to approval from the AMF, France's financial market regulator. This capital increase will be made by preferential subscription rights at an issue price of EUR9 per share.
According to Calida, the move will provide those shareholders who did not tender their shares after a takeover offer in November with the opportunity to continue supporting Lafuma alongside Calida.
Lafuma reported a wider full-year loss in November to EUR71.2m, weighed down by lower sales and ongoing restructuring costs. Turnover declined 13.8% to EUR193.6m.
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