FRANKFURT, July 30 (Reuters) - Tom Tailor on Wednesday said a consortium controlled by China’s Fosun International Ltd has agreed to buy a 23.16 percent stake in the German retailer currently owned by Liechtenstein-based Versorgungs- und Förderungsstiftung.
Tom Tailor said the acquisition of the stake by Fidelidade-Companhia de Seguros SA, Portugal, an insurance company controlled by Fosun, will be implemented shortly.
The Fosun consortium also includes other co-investors and some members of the retailer’s management board, Tom Tailor said.
The 23.16 percent stake remains subject to a lockup agreement which prevents any trading of the shares until Aug. 8 2015, the company added. (Reporting by Edward Taylor, editing by David Evans)