Frasers Group could acquire Mulberry

United Kingdom
Published:  20 November, 2020

The retail Group, formerly known as Sports Direct, has increased its stake in the British leather goods brand to 36.82%.

Frasers Group has announced the acquisition of 4,335,720 ordinary shares in Mulberry Group from Kaupthing. The Acquisition results in Frasers Group holding 22,121,948 Mulberry ordinary shares, representing, in total, 36.82% of the existing issued share capital and voting rights of Mulberry. Furthermore, the retail Group said it could announce a firm intention to make an offer to Mulberry shareholders by December 17.

In early November, Frasers Group was reported to have raised its stake in Mulberry from 12.5% to 29.7%, just below the level at which it would have to make a takeover offer for the luxury goods retailer. Read more here.