Brief: Softline plans to demerge its Russian and non-Russian operations
19/07/2022 07:31
July 19 (Reuters) - Softline Holding Plc SFTLq.L says:
* It plans to proceed with a demerger of its Russian and
non-Russian operations, subject to all necessary approvals,
including shareholder approval.
* The announcement follows a review initiated in May 2022
to adjust the group's assets and ownership structure in order to
optimise value for all of its stakeholders.
* As part of the demerger, the business in the Russian
Federation
will become Softline Russia, and the business outside Russia
will become Softline Global, although in the future these names
will change.
* Softline Global intends to retain the company's LSE
listing.
Further company coverage: SFTLq.L