FRANCE: Lafuma share price falls as E-Land talks collapse
Outdoor clothing and equipment retailer Lafuma has seen its share price slide 16.67% today (13 November) after withdrawing from takeover talks with South Korean apparel conglomerate E-Land.
Preliminary discussions with E-Land "did not reveal sufficient synergies" to achieve a substantial change in the French-based retailer's development strategy, the company said.
Lafuma, which last month agreed to sell its Le Chameau countrywear brand to Marwyn Management Partners, will continue to refocus on the outdoor sport market, including boardsports and mountaineering, and on growth in Asia and in China.
E-Land was reportedly offering EUR35 per share, which valued the clothing retailer at EUR122m (US$159m). Lafuma's share price fell 16.67% to EUR18.50 at 12:11 GMT today (13 November).
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