Frasers Takes Majority Stake in Hugo Boss
British retailer Frasers has increased its stake in Hugo Boss to over fifty percent making the German fashion house a subsidiary. The move follows a series of share purchases after an earlier takeover bid was rejected. Hugo Boss assets will now be consolidated into Frasers accounts.
Xurve View
Insights:
Xurve View
Frasers Group plc will take majority control of Hugo Boss AG after raising its stake to 50.08% for €7.6 million ($8.51 million) on Friday afternoon. The British retailer previously made a failed €2 billion takeover bid for the Germany-based fashion house in June. The transaction turns the German designer into a Frasers subsidiary, integrating its assets and liabilities into the parent company's accounts.
