PPR : Closing of the sale of Ellos and Jotex
Kering* announces that Redcats has closed the sale of its Nordic brands, Ellos and Jotex, to Nordic Capital Fund VII. The purchase price was paid in accordance with the terms of the definitive sale agreement previously announced on 25 February 2013.
A world leader in apparel and accessories, Kering develops an ensemble of powerful Luxury and Sport & Lifestyle brands: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, Stella McCartney, Sergio Rossi, Boucheron, Girard-Perregaux, JeanRichard, Qeelin, Puma, Volcom, Cobra, Electric and Tretorn. By 'empowering imagination' in the fullest sense, Kering encourage its brands to reach their potential, in the most sustainable manner.
Present in more than 120 countries, the Group generated revenues of €9.7 billion in 2012 and had 33,000 employees at year end. The Kering (previously PPR) share is listed on Euronext Paris (FR 0000121485, PRTP.PA, PPFP).
* PPR will become Kering, subject to approval at the Annual General Meeting on 18 June 2013
Paul Michon +33 (0)1 45 64 63 48 email@example.com
Hélène Saint-Raymond +33 (0)1 45 64 61 20 firstname.lastname@example.org
Alexandre de Brettes + 33 (0)1 45 64 61 49 email@example.com
Edouard Crowley + 33 (0)1 45 64 63 28 firstname.lastname@example.org
Site Internet: www.kering.com
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: PPR via Thomson Reuters ONE