EQS-Ad-hoc: Global Fashion Group S.A. / Key word(s): Disposal
Global Fashion Group S.A.: GFG AGREES TO SELL CIS BUSINESS LAMODA
07-Oct-2022 / 07:03 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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.
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Name of person making the announcement: Andin Fonyonga, Group Head of Legal & Compliance
Investor Relations:
Jo Britten
Investor Relations Director
investors@global-fashion-group.com
Media Contact:
Jovana Lakcevic
Head of PR & Communications
press@global-fashion-group.com
07-Oct-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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