SWEDEN: New Wave Comes Up With New Dressmart Deal
New Wave has made another attempt to take over troubled Swedish clothing site, Dressmart. The potential acquisition is estimated to cost between SKr7.5m and SKr10m ($751,500-$1m). New Wave would also take over part of Dressmart's debts, which are rumoured to amount to SKr40m ($4.3m).In return New Wave would get access to Dressmart's business trading system, an important foundation for its own still to be launched Internet trading scheme.Leading business daily, Dagens Industri, reported yesterday that New Wave has offered to buy more than 90 per cent of Dressmart's capital. New Wave managing director, Torsten Jansson, hopes to get an answer today (Thursday), but believes that the offer will be accepted.When the Swedish Internet clothing site, Dressmart got into difficulties this August, New Wave stepped forward as a potential buyer, but the deal was stymied by a minority of its shareholders.
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