Home / Knowledge / News / Fashion / GUS to demerge remaining 65% stake in Burberry

GUS to demerge remaining 65% stake in Burberry

18
Nov '05
Retailer GUS plc declared the setting out details of its plans to demerge its remaining 65 per cent stake in Burberry Group plc by way of a dividend in specie, Burberry will post shortly a circular to shareholders setting out further details of the arrangements with respect to the proposed demerger.

Burberry will propose a series of resolutions to its shareholders, which the independent directors of Burberry believe would, if passed, allow the demerger to be implemented in a more orderly way, to the benefit of the Group and its shareholders.

Matters to be considered include approval of a demerger agreement between Burberry and GUS relating to such issues as pension liabilities, taxation and transaction expenses. Accordingly, the demerger is subject to shareholder approval from both Burberry shareholders and GUS shareholders.

Burberry will convene an extraordinary general meeting of shareholders on 12 December 2005 to consider the resolutions.

The expected timetable of principal events is set out below.

Luxury brand Burberry with a distinctive British sensibility, strong international recognition and differentiating brand values that resonate across a multi-generational and dual-gender audience. Company is distributing their products through a diversified network of retail, wholesale and licensing channels worldwide.

Leading retail & services provider GUS' activities comprise general merchandise retailing through Argos Retail Group, information and customer relationship management services through Experian and luxury goods through a majority shareholding in Burberry Group plc.

Burberry Group plc


Must ReadView All

Pic: Shutterstock

Textiles | On 2nd Mar 2021

China plans mega transport network to boost trade, economy

China plans to build a global rapid logistics circle for goods by...

Pic: Shutterstock

Retail | On 2nd Mar 2021

US retail sales projected to exceed $4.33 trillion in 2021:

The National Retail Federation has projected that US retail sales...

Pic: Shutterstock

Apparel/Garments | On 2nd Mar 2021

Garment, hard goods exports in Philippines may hit $2 bn:

Exports of garments and hard goods in the Philippines may reach $2...

Interviews View All

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Top executives, Textile industry

Top executives
Textile industry

It will take some time for the people to change their buying choices

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Amol Bhagwati,

Amol Bhagwati

A textile finishing solution provider, Inspiron Engineering Private...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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


February 2021

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


Advanced Search