British retail and intellectual property group Frasers Group has increased its investment in German fashion brand Hugo Boss AG. It now has 3,425,000 shares of common stock, representing 4.9 per cent of Hugo Boss’ total share capital and 18,289,000 shares of common stock via the sale of put options, representing 26 per cent of Hugo Boss’ total share capital.
After considering the premium it will receive under the put options, Frasers Group’s maximum aggregate exposure in connection with its acquired interests in Hugo Boss is approximately €900 million (c. £770 million), Frasers Group said in a media release.
This investment reflects Frasers Group’s belief in the Hugo Boss brand, strategy and management team. Frasers Group continues to intend to be a supportive stakeholder and create value in the interests of both Frasers Group’s and Hugo Boss’ shareholders.
Source: Fashion Network
