Fosun Industrial Holdings Limited (Fosun) has signed an agreement for a purchase of a majority stake in Wolford AG.
The company will pay €32.56 million for 2,543,694 shares (approx. 50.87%), with a price of €12.80 per share. Fosun also agreed to provide up to 22 million euros as part of a capital increase. The closing of the share purchase agreement is subject to the fulfilment of certain conditions precedent including, in particular, clearance by the competent merger control authorities. Upon closing of the purchase, Fosun will be the new strategic majority shareholder of Wolford AG. The news came after Wolford AG has stabilised their revenue in the first half of the 2017-18 financial year.