AlixPartners UK LLP to sell 37% stake in French fashion group SMCP (updated)

Smcp SA

01/03/2023 06:51

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       PARIS, March 1 (Reuters) - Alastair Beveridge and Daniel
Imison of AlixPartners UK LLP launched on Wednesday the process
to sell a 37% stake in SMCP  SMCP.PA , the French fashion
company whose labels include Sandro and Maje.
    "At this initial stage in launching the sale process, the
timing for the sale process, the conclusion of any sale of the
pledged shares, the identity of any purchaser (or purchasers),
and whether all or any part of the pledged shares may be sold to
one or more purchasers are currently unknown," said AlixPartners
UK LLP.
        "Accordingly, it is not yet possible to assess whether
the transaction will trigger or not a subsequent mandatory
takeover bid," it added.
  
        SMCP's shareholders are dominated by a group of former
bondholders including Blackrock and Carlyle. The fashion
company's former majority owner, a unit of Chinese conglomerate
Shandong Ruyi  002193.SZ , had previously defaulted on debt
worth 250 million euros ($265 million).
  
        ($1 = 0.9434 euros)
  

 (Reporting by Sudip Kar-Gupta; Editing by Kim Coghill)
 ((sudip.kargupta@thomsonreuters.com;))