Key Developments: Kering SA (PRTP.PA)

PRTP.PA on Paris Stock Exchange

155.85EUR
11 Jul 2014
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€-0.45 (-0.29%)
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Latest Key Developments (Source: Significant Developments)

Employees of Kering's La Redoute Demonstrate to Demand Guarantees Regarding Their Jobs-Agence France Presse
Monday, 21 Oct 2013 08:00pm EDT 

Agence France Presse reported that between 450 and 550 employees of Kering's La Redoute demonstrated in front of the Company's headquarters to demand guarantees regarding their jobs. According to trade unions, Kering has confirmed that it plans to sell La Redoute after it has been recapitalized. Employees of La Redoute want to receive guarantees regarding their salaries and tenure of employment.  Full Article

Kering SA Issues EUR 500 Million Bond
Monday, 30 Sep 2013 11:49am EDT 

Kering SA announced that it has issued a EUR 500 million, 1.875% fixed-rate bond maturing in five years (October 8, 2018) listed on the Luxembourg stock exchange. This issue enables Kering SA to diversify its sources of financing and to enhance its funding flexibility through refinancing of existing debt and extension of their average maturity. The placement is managed Credit Agricole-CIB, HSBC, Mitsubishi UFJ Securities International, NATIXIS, Societe Generale-CIB and UNICREDIT.  Full Article

Kering Acquires Minority Stake in Altuzarra-L'Agefi Quotidien
Sunday, 8 Sep 2013 08:00pm EDT 

L'Agefi Quotidien reported that Kering has acquired a minority stake in New York-based fashion label Altuzarra. The exact size of the stake acquired and the financial terms of the deal were not disclosed.  Full Article

Kering Issues EUR 500 Million Bond
Monday, 8 Jul 2013 12:28pm EDT 

Kering announced that it has issued a EUR 500 million, 2.50% fixed-rate bond maturing in July 2020. The placement is managed by Banca IMI, CA-CIB, Commerzbank, Natixis, RBS and SG-CIB.  Full Article

Kering Issues EUR 500 Million Bond
Monday, 8 Jul 2013 12:28pm EDT 

Kering announced that it has issued a EUR 500 million, 2.50% fixed-rate bond maturing in July 2020. The placement is managed by Banca IMI, CA-CIB, Commerzbank, Natixis, RBS and SG-CIB.  Full Article

Kering Issues EUR 500 Million Bond
Monday, 8 Jul 2013 12:28pm EDT 

Kering announced that it has issued a EUR 500 million, 2.50% fixed-rate bond maturing in July 2020. The placement is managed by Banca IMI, CA-CIB, Commerzbank, Natixis, RBS and SG-CIB.  Full Article

Kering Completes Acquisition of Pomellato
Friday, 5 Jul 2013 11:39am EDT 

Kering announced that it has completed the acquisition of a majority stake in the Pomellato group, in accordance with the terms announced on April 24, 2013, after having received clearance from the antitrust authorities.  Full Article

Kering Announces Share Repurchase Program
Wednesday, 19 Jun 2013 04:23am EDT 

Kering announced details of the share repurchase program which was submitted for the approval of its Combined general Meeting on June 18, 2013. The maximum percentage of the share capital and maximum number of shares of Kering that may be purchased: 10% of the share capital (i.e., 12,618,267 shares as of June 17, 2013). Considering that the Company holds 740,432 of its own shares, the maximum number of shares which may be purchased amounts to 11,877,835 shares, representing 9.4 % of the share capital. The maximum purchase price is EUR 220 per share. Based on a EUR 220 maximum purchase price, the amount to be invested for share buy-backs is set by the Ordinary General Meeting at EUR 2,775,951,420. The program will run until December 17, 2014.  Full Article

PPR SA in talks to buy Richard Mille-Reuters
Monday, 17 Jun 2013 12:52pm EDT 

Reuters reported that PPR SA is in talks to buy control of Richard Mille, one of the expensive watch brands on the market, an industry source with first-hand knowledge of the matter told Reuters. The deal could value Richard Mille at 340-400 million Swiss francs, or 2.5-3 times its expected 2013 revenues of 135 million Swiss francs ($146.60 million), said the source, who requested anonymity. PPR would at first acquire 51% of Richard Mille with the possibility of raising its stake further, while Richard Mille would be locked in the business as chief executive and shareholder for a number of years, the source added. The transaction is unlikely to close before early 2014 at the request of Mille who needs to settle private affairs before going ahead with a sale, the source said. Richard Mille and PPR, which is expected to change its name to Kering at its annual general meeting on June 18, 2013, declined to comment.  Full Article

Kering (PPR SA) Announces Closing of the Sale of Ellos and Jotex
Monday, 3 Jun 2013 11:44am EDT 

Kering (PPR SA) announced 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 February 25, 2013.  Full Article

UPDATE 2-Gucci's sales growth remains sluggish in Q1

* Gucci like-for-like sales growth 0.3 pct in Q1, down 3.2 pct reported

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