SPY392.73+0.87 0.22%
DIA314.50-1.05 -0.33%
IXIC11,548.04+129.88 1.14%

BRIEF-G-Iii Apparel Group To Purchase Iconic Karl Lagerfeld Brand

reuters.com · 05/02/2022 07:17
BRIEF-G-Iii Apparel Group To Purchase Iconic Karl Lagerfeld Brand

- G-III Apparel Group Ltd GIII:

  • G-III APPAREL GROUP TO PURCHASE ICONIC KARL LAGERFELD BRAND

  • G-III APPAREL GROUP LTD - G-III TO PURCHASE REMAINING 81% STAKE TO BECOME SOLE OWNER OF RENOWNED INTERNATIONAL FASHION BRAND

  • G-III APPAREL GROUP LTD - ALL-CASH TRANSACTION HAS BEEN APPROVED BY BOARD OF DIRECTORS OF BOTH COMPANIES

  • G-III APPAREL GROUP LTD - G-III WILL PURCHASE REMAINING 81% OF KARL LAGERFELD FOR EUR 200 MILLION ($210 MILLION USD) IN CASH

  • G-III APPAREL GROUP LTD - ACQUISITION INCLUDES KARL LAGERFELD'S EXISTING 10% STAKE IN ITS ESTABLISHED JOINT VENTURE IN CHINA

  • G-III APPAREL GROUP LTD - DEAL EXPECTED TO BE MODESTLY ACCRETIVE IN UR FISCAL 2023 YEAR ENDING JAN 31, 2023, INCREMENTALLY MORE ACCRETIVE THEREAFTER

Source text for Eikon: ID:nBw74pjV7a

Further company coverage: GIII


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