GLAS bondholder group takes 29% stake in fashion company SMCP
29/10/2021 10:45
PARIS, Oct 29 (Reuters) - The GLAS group of bondholders has
taken a 29% equity stake in French fashion company SMCP
SMCP.PA , whose brands include Sandro and Maje, and it will
then look to sell the stake, in a move that could result in an
ownership change at SMCP.
SMCP shares rose 3%. Chinese company Shandong Ruyi
002193.SZ has a stake of roughly 53% in SMCP.
"SMCP reminds that this situation does not affect its own
financing and operations. Value creation for all of the group's
stakeholders (shareholders, employees and other partners) is at
the heart of the company's strategy. SMCP and its teams remain
fully committed to the implementation of the One Journey
strategic plan to 2025," SMCP said on Friday.
(Reporting by Sudip Kar-Gupta; editing by Jason Neely)
((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))