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ESPRIT HOLDINGS Proposes to Pair with Private Equity Group for European Biz Restructuring
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ESPRIT HOLDINGS (00330.HK) announced that on 17 April 2024 (after trading hours), the Company entered into a non-legally binding MOU with the Potential Investor in relation to the Potential Investment and Cooperation. According to the MOU, an SPV will be set up to manage and operate the Group’s European business; the Potential Investor will assist the Company to restructure the Group's European business; and the Potential Investor is intended to take an economic interest in the Company. The Potential Investor is an international private equity group. In recognition of the fact that the Company’s previous brand direction did not achieve the desired results, the Company has decided to embark on a rebranding journey with new partnerships. The Group believes that the Potential Investment and Cooperation is in line with the Group’s growth and restructuring strategies. If the Potential Investment and Cooperation materializes, the Group will be able to focus on its key strategic markets, including the North America market and Asian market, and for future development. At the same time, the Company foresees that it will derive substantial advantages from the potential synergies inherent in the Potential Investment and Cooperation, and the Company will continue to benefit from the operation of the brand’s business in Europe. AAStocks Financial News |
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