Global Fashion Group S.A.: GFG AGREES TO SELL CIS BUSINESS LAMODA10/07/2022
EQS-Ad-hoc: Global Fashion Group S.A.: GFG AGREES TO SELL CIS BUSINESS LAMODA
Global Fashion Group S.A. / Key word(s): Disposal
Global Fashion Group S.A.
(the “Company” or “GFG”)
Luxembourg, 7 October 2022: GFG agrees to sell CIS business Lamoda
Global Fashion Group (“GFG”) announces that it has agreed today to sell its Lamoda business with operations in Russia, Kazakhstan and Belarus to fashion retail investor, Iakov Panchenko.
The agreement remains subject to certain conditions, including regulatory approval, with closing expected to occur in the coming months. GFG expects proceeds of approximately one hundred million Euros in addition to the value of the cash held in the Lamoda business as at 30 September 2022.
Name of person making the announcement: Andin Fonyonga, Group Head of Legal & Compliance
Investor Relations Director
Head of PR & Communications
|Company:||Global Fashion Group S.A.|
|Phone:||+352 691 20 56 54|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Tradegate Exchange; Luxembourg Stock Exchange|
|EQS News ID:||1458763|
|End of Announcement||EQS News Service|