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(Alliance News) - Mike Ashley's Frasers Group PLC on Tuesday said it has recently increased its investment in Hugo Boss AG.
The UK department store group said its total acquired interests in Hugo Boss is now about EUR275 million. Frasers said it holds 3.6 million shares, representing 5.1% of Hugo Boss's total share capital.
A further 3.4 million shares are held via contracts for difference, representing 4.8% of Hugo Boss's total share capital, and 3.7 million shares are owned via the sale of put options, representing 5.3% of Hugo Boss's total share capital.
The FTSE 250-listed company explained that this investment reflects its growing relationship with Hugo Boss and belief in the luxury fashion chain's long-term future.
Frasers said it intends to be a supportive stakeholder and create value in the interests of both Frasers' and Hugo Boss' shareholders.
Frasers shares closed 1.4% lower in London on Tuesday at 435.00 pence each, while Hugo Boss shares closed 1.5% lower in Frankfurt at EUR26.90 each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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