Transnational Takeovers: Fosun Denounced 8 Million 700 Thousand Euros To Acquire Shares Of German Casual Wear Companies And Offered Mandatory Offer.

In February 19th, the Fosun International Ltd announced that it agreed to use German Commerzbank as an authorized agent to represent the company to subscribe to TomTailor's new TomTailor shares issued in the form of capital raising, totaling 3 million 849 thousand and 500 shares.

At the same time, TomTailor decided to issue exclusive issue and allotment of 3 million 849 thousand and 500 new TomTailor shares to the Fosun international, with a subscription price of 2.26 euros per share and a total cash contribution of 8 million 699 thousand and 900 euros, excluding the current TomTailor shareholders' subscription rights.

The subscription certificate has been signed by German Commerzbank on behalf of Fosun international in February 19, 2019.

Following the completion of the subscription, Fosun international expects to have a total of 14 million 969 thousand and 500 TomTailor shares, equivalent to about 35.35% of all issued shares and voting rights of TomTailor.

As a result of the international control of the voting rights of TomTailor30% or above, it is obliged to comply with the obligation to make an open acquisition of the offer to all TomTailor shareholders.

Therefore, in February 19th, Fosun International announced its intention to offer voluntary disclosure offer to all TomTailor shareholders as an offeror to acquire all TomTailor shares that have not been directly held.

According to the view, the new media understands that TomTailor was founded in 1962, and is headquartered in Hamburg, Germany. It is an international and vertically integrated fashion company. It focuses on the mid priced casual wear area through TomTailor and Bonita brands, and has many kinds of fashion accessories and home textiles suitable for cross age groups.

By the end of June 30, 2018, according to the unaudited financial statements of TomTailor, its total assets and net assets were approximately 665 million euros and 224 million euros respectively.

Its net profit after tax in the first 6 months of 2018 was 2 million 26 thousand euros.

Fosun international has said that it is a major investor in the TomTailor, increasing its stake in TomTailor shares through this paction, and will benefit from the long-term growth potential of TomTailor.