Home / Knowledge / News / Apparel/Garments / Destination Maternity merging with Orchestra Prémaman
Destination Maternity merging with Orchestra Prémaman
22
Dec '16
The world's largest designer and retailer of maternity apparel, Destination Maternity is merging with European manufacturer and retailer of children's clothing Orchestra Prémaman S.A. The combined company, which is expected to have pro forma revenues of approximately $1.1 billion, is also expected to enjoy greater financial strength and flexibility.

Under the terms of the agreement, Destination Maternity shareholders will receive 0.5150 of an Orchestra Prémaman ordinary share, in the form of American Depositary Shares (ADS’s), for each share of Destination common stock they own.

The implied offer price of $7.05 per share is based on Orchestra's closing stock price and the EUR/USD exchange ratio on December 19, 2016, representing a 34.0 percent premium to its unaffected stock price of $5.26 on May 31, 2016.

After the transaction is done, Destination shareholders will own approximately 28 per cent of the combined company, and Orchestra shareholders will own approximately 72 per cent and the stock-for-stock transaction is expected to be tax free to shareholders. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Fashion | On 2nd Dec 2020

Fashion industry suffering worst year on record: report

Global fashion sales and economic profit—a measure of value where...

Pic: Global Fashion Agenda

Apparel/Garments | On 2nd Dec 2020

GFA launches Circular Fashion Partnership in Bangladesh

Denmark-based sustainability forum Global Fashion Agenda (GFA)...

Pic: Shutterstock

Textiles | On 2nd Dec 2020

Pakistan's textile & apparel exports up 3.78% in July-Oct

The value of textile and garment exports from Pakistan rose by 3.78...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek, Kannbar

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Top executives, Fabric manufacturers

Top executives
Fabric manufacturers

Domestic manufacturers would get an edge over imported products

Top executives, Textile industry

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Erwin Devloo,

Erwin Devloo

Picanol develops, produces and markets high-tech weaving machines, based...

Paolo Crespi,

Paolo Crespi

Japan's Epson, a leader in digital textile printing, Italy's For.Tex, a...

Wolfgang Muller,

Wolfgang Muller

Mayer & Cie is a leading global manufacturer of circular knitting...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search