EQS-Adhoc: Global Fashion Group S.A.: GFG AGREES TO SELL CIS BUSINESS LAMODA
|
EQS-Ad-hoc: 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.
--Ends--
Name of person making the announcement: Andin Fonyonga, Group Head of Legal & Compliance
Investor Relations: Jo Britten Investor Relations Director
Media Contact: Jovana Lakcevic Head of PR & Communications
07-Oct-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Global Fashion Group S.A. |
| 5, Heienhaff | |
| L-1736 Senningerberg | |
| Luxemburg | |
| Phone: | +352 691 20 56 54 |
| E-mail: | [email protected] |
| Internet: | https://global-fashion-group.com |
| ISIN: | LU2010095458 |
| WKN: | A2PLUG |
| Indices: | SDAX |
| 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 |
|
|
1458763 07-Oct-2022 CET/CEST
