// Frasers Group eyes takeover of Hugo Boss
// The group said it intends to be a “supportive shareholder”
// Frasers Group is already an investor and has been buying up more shares in Hugo Boss
Mike Ashley’s Frasers Group is reportedly eyeing a takeover of Hugo Boss after increasing its shares in the premium retailer earlier this year.
Frasers Group said it intends to be a “supportive shareholder” of Hugo Boss, The Telegraph reported.
Shares in Hugo Boss have risen by almost seven per cent in Frankfurt following speculation that Ashley may swoop in, valuing it at €3.2 billion (£2.7 billion).
- Frasers Group to buy back £60m worth of shares despite Covid woes
- Mike Ashley’s Frasers Group increases shares in Hugo Boss
Frasers Group is already an investor and has been buying up more shares in Hugo Boss in recent months.
In January, the Sports Direct, Flannels and House of Fraser owner, controlled a 15.2 per cent stake in the firm through a combination of stocks.
The move has been made through stocks and derivatives and means Frasers Group now owns 3.6 million of common stock, representing 5.1 per cent of Hugo Boss’ total share capital.
The empire also owns 3.3 million shares via contracts for difference, which represents 4.8 per cent of Hugo Boss’ shares, and 3.7 million shares via the sale of put options, amounting to 5.3 per cent of the retailer’s share capital.
“This investment reflects Frasers Group’s growing relationship with Hugo Boss and belief in Hugo Boss’s long-term future,” Frasers Group said at the time.