Global Fashion Group S.A.: GFG AGREES TO SELL CIS BUSINESS LAMODA
October 07, 2022 at 01:05 am EDT
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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. Archive at www.eqs-news.com
Language:
English
Company:
Global Fashion Group S.A.
5, Heienhaff
L-1736 Senningerberg
Luxemburg
Phone:
+352 691 20 56 54
E-mail:
investorrelations@global-fashion-group.com
Internet:
https://global-fashion-group.com
ISIN:
LU2010095458
WKN:
A2PLUG
Indices:
SDAX
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Tradegate Exchange; Luxembourg Stock Exchange
Global Fashion Group SA is a Luxembourg-based Company. The Company operates as a fashion and lifestyle destination in growth markets across LATAM (Latin America), SEA (Southeast Asia) and ANZ (Australia and New Zealand). It provides a range of market-oriented products, such as apparel, accessories, sportswear and footwear, among others, with a particular focus on the customer experience. The Companyâs three e-commerce platforms include Dafiti, ZALORA and THE ICONIC connect an assortment of international, local and own brands to consumers from diverse cultures and lifestyles.