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Pandora takes over distribution in Middle East through acquisition of Pan ME


Monday, 3 Mar 2014 11:05am EST 

Pandora A/S:Acquires 100 percent of Pan ME A/S.Says will pay a one-time cash amount of 75 million dirhams (about 110 million Danish crowns) in connection with the transaction.Says Pan ME holds the distribution rights to PANDORA jewelery in UAE, Bahrain, Qatar and Oman.Says through the acquisition will enter the Middle East markets directly and add to its retail chain 10 PANDORA Concept stores located in UAE and three distributor stores in Bahrain, Qatar and Oman.Intends to establish Dubai as the future hub for the Company's activities in the Middle East and North Africa. 

Company Quote

495.7
1.8 +0.36%
21 Nov 2014