FRANCE: Etam to get new major shareholder
The Milchior family has launched an operation to become the major shareholder in clothing and lingerie retailer Etam.
Already owning almost 12% of Etam's capital, it is planning to acquire the 23.25% stake held in the group by Fitema Participations, according to indications from France's financial markets regulator, the AMF.
Etam's other shareholder is the Tarica family (10.03%), with the remainder of the company's capital, around 55%, quoted on the stock exchange.
Following the operation, the Milchior family's shareholding in Etam is expected to rise to 38.98% with the Tarica family stake increasing to 11.11%.
Etam reported a net profit of EUR7.2m (US$10.07m) in 2008 from a turnover of almost EUR1bn.
By Stuart Todd.
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Women's wear retailer Etam has reported a 6% drop in like-for-like third quarter sales, with a sharp jump in demand in China offset by a slowdown in Europe....
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