Maus Frères holds 95.6% shares of Gant

07 Feb '08

2 min read

Maus Frères S.A. ("Maus Frères") has through its subsidiary Procastor S.A. ("Procastor") increased its ownership in Gant Company AB (publ) ("Gant"), effectively completing the acquisition of Gant.

Maus Frères has acquired 10,006,970 additional shares representing 59.7 percent of the shares and votes in Gant for SEK 320 per share, including the shares of Gant's Chairman Lennart Björk and those of a number of Gant's master franchisees. Maus Frères now holds a total of 16,031,138 shares in Gant, representing 95.6 percent of the shares and votes in Gant.

Lennart Björk, Chairman of Gant, commented:
"For me, it has been paramount to give Gant a robust and long-term ownership structure in order to continue to build on the strategy and values of the company. With a majority of the shares, Maus Frères is such an owner.

I have agreed to remain as Chairman of Gant and I am delighted to work with Maus Frères to ensure continuity for our master franchisees and staff and to further develop Gant to be one of the four leading brands in the world in our market segment."

Didier Maus, Chairman of Maus Frères, commented:
"We are very pleased to have been able to come to an agreement with Lennart Björk and all of the order of Gant's major shareholders which puts an end to a period of uncertainty and paves the way for future further development of Gant around the world.

We are very excited by our acquisition of Gant and we have the utmost respect for Lennart Björk's and his colleagues' achievements over many years.

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