Guess has been taken private following the completion of its takeover by Authentic Brands Group, bringing an end to the fashion brand’s listing on the New York Stock Exchange.
The acquisition, which was completed on Friday (23 January), will see Guess becoming a wholly owned subsidiary of a new holding company backed by Authentic.
As part of the deal, Guess transferred most of its intellectual property into newly created subsidiaries.
These are now 51% owned by Authentic – whose portfolio includes Reebok, Champion and Forever 21 – and 49% owned by existing shareholders, including company founders and senior executives.
Following the takeover, Guess confirmed a change in control. The board stepped down on completion, while existing senior executives remain in place.
The company has also updated its corporate structure and governance documents and Guess will no longer be required to publish financial results or file reports with US regulators once the delisting process is complete.
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