Qatar Plans To Sell Majority Stake In Le Tanneur

According to the world clothing shoes and hats net, Qatar

The group (hereinafter referred to as QLG) recently plans to sell its majority stake in France's high-end leather brand Le Tanneur, and Tolomei Participations (hereinafter referred to as Tolomei) has entered an exclusive negotiation stage, and the offer price is no less than 13 million 300 thousand euros.

QLG currently holds majority interest in Le Tanneur 85.6% and 92% of the voting rights.

The takeover of Tolomei will be divided into three steps, a simplified bid offer of 2.5 euros per share.

Le Tanneur said in a public statement that the capital injection and growth plan raised the brand's ability to repay (the amount paid to QLG is roughly 9 million 500 thousand euros), and made full use of the expertise and experience of new owner Tolomei in the production and distribution of luxury goods to help Le Tanneur continue to develop.

The special shareholders' meeting of Le Tanneur will be held in September 30th at the latest. The increase and acquisition offer is expected to be completed in the fourth quarter of this year.

About Le Tanneur

Founded in 1898, Le Tanneur is a professional leather manufacturer and tanning company. The patented product "Sans couture" (no trace wallet) is a suture free wallet made from a whole piece of leather.

At present, the brand has 50 boutiques and 80 department stores all over the world, and sells more than 300 multi brand retailers, and also has its own e-commerce website.

The company's own leather brand is named Soco, which reported sales of 53 million 800 thousand euros last year.

In France, there are three leather workshops and 550 employees.

It was listed on the pan European stock exchange in 2000.

Le Tanneur is the first enterprise to acquire QLG. In 2011, QLG bought the former 52.7%'s stake and traded at Euro 15 million 100 thousand, and plans to further acquire the remaining shares.

QLG is also the owner of Qatar's local luxury brand Qela. Its products include leather goods, footwear, jewelry and women's clothing.

France luxury group 1999

It bought Le Tanneur and signed a license to produce the United States.

Brand Michael Kors leather goods contract.

Michael Kors was the creative director of LVMH luxury brand C e line.

In December 2006, LVMH group sold a minority stake (375 thousand shares) of Le Tanneur 26.9% at the price of 3 million 900 thousand euros, including the Herv Tanneur Descottes, the then president of Le Tanneur.

About Tolomei

Tolomei is a luxury goods manufacturer and brand management company in France, mainly through the global franchise franchise mode, for the French sports fashion brand Lacoste production of leather goods, its own brands include: Renaud Pellegrino and PK-214.

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