The British trading group Frasers Group PLC has secured further shares of the Metzingen fashion provider Hugo Boss AG by selling put options.
The parent company of the trade chains Sports Direct, Frasers and Flannels said on Wednesday that it is currently holding around 13.5 million shares by Hugo Boss. This corresponds to a proportion of 19.2 percent in the total capital of the fashion company.
The Frasers Group now has access to up to 16.7 million other shares from Hugo Boss through options. Based on the current share price, the retailer estimated his “maximum total commitment” at the German Group at around 1.02 billion euros if all options were to be used completely.
The Frasers Group explained that it works “strategic investments”, among other things, in order to “build relationships with important suppliers and brands”. Hugo Boss first got on in the summer of 2020. In the meantime, he is the largest single shareholder of the clothing company and emphasized that he wanted to stay a “long -term investor”.
The relationship will soon continue to be consolidated: Michael Murray, the CEO of the Frasers Group, was nominated for a seat in the Hugo Boss AG supervisory board in December. It is to be elected to the committee at the coming annual general meeting on May 15th.