Fosun could take control of Tom Tailor
today Jan 30, 2019
Tom Tailor could soon be acquired by its majority shareholder, after the European Commission approved a proposed acquisition by Chinese conglomerate Fosun.
Currently, the Chinese groups holds a 29% share in the clothing retailer, and has had a majority at the retailer’s annual general meetings in 2017 and 2018.
This week, the European Commission approved, under the EU Merger Regulation, the acquisition of sole control of Tom Tailor Holding SE by Fosun International Limited after concluding that the transaction would raise no competition concerns given the companies' limited combined market shares in Europe.
Tom Tailor also announced it is in talks about a possible capital injection, but a statement released on Wednesday did not provide further details.
Fosun International’s investment portfolio includes other fashion brands such as French fashion house Lanvin, Austrian hosiery brand Wolford and Caruso Suiting, among others.
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