June 20, 2018 / 5:52 AM / 5 months ago

Richemont announces delisting of ordinary shares of Yoox Net-A-Porter

ZURICH, June 20 (Reuters) - Richemont said on Wednesday the ordinary shares in Yoox Net-A-Porter have been delisted from the Milan Stock Exchange, completing the luxury company’s takeover of the online fashion retailer.

Cartier-owner Richemont, which had already owned 25 percent of YNAP, launched a takeover in January so it could better compete in the expanding online market for luxury goods.

Borsa Italia ordered the delisting effective on June 20, after the shares were suspended from listing and trading this week. (Reporting by John Revill,)

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