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Briscoe Group takes 19.9% holding in Kathmandu
Briscoe Group takes 19.9% holding in Kathmandu
Briscoe Group Limited today announced it has acquired a 19.9% shareholding in Kathmandu Holdings Limited - a leading retailer of clothing and equipment for travel and adventure with stores predominantly in New Zealand and Australia.
A 4.99% shareholding has been acquired by Briscoe Group over time, and a further 14.91% shareholding has been acquired from a number of institutional shareholders at a price of NZ$1.80 per share.
Briscoe Group intends to lodge a takeover notice imminently in respect of a takeover offer comprising both cash and scrip to all Kathmandu shareholders.
Briscoe Group Managing Director and majority shareholder Rod Duke said, “I am excited by the potential that would arise from bringing together these two iconic retailers – we each have strong and recognisable brands that I see as complementary.”
Briscoe Group does not at this stage intend making any further comment about its purchase of Kathmandu shares or the imminent takeover offer.
ENDS
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