The online fashion retailer Fashionette AG is apparently making progress with its merger plans with the e-commerce company The Platform Group.
On Monday, Fashionette announced that, according to the board of directors, “the planned acquisition of the 100 percent stake in The Platform Group GmbH & Co KG is expected to be completed in the short term.” “According to the current status of discussions with the responsible courts, Fashionette AG accepts registration of the corresponding capital increase in the next few days,” explained the company. “With this formal step, the new The Platform Group AG will enter the market.”
Fashionette shareholders approved the merger at the beginning of September
The shareholders of Fashionette approved the plan to merge the two companies at an extraordinary general meeting on September 6th. The plan calls for The Platform Group GmbH & Co KG to be “incorporated into Fashionette AG by means of a capital increase in kind, excluding subscription rights”.
Following the transaction, Fashionette AG will be renamed “The Platform Group AG”. Dominik Benner, the owner and managing director of The Platform Group and CEO of Fashionette, will have an “indirect stake of around 79.81 percent” in the new company, explained the online retailer. In mid-October he had already presented the first annual forecasts for the planned entire company.