The British trading group Frasers Group Plc is still on a shopping spree and is expanding its stake in the fashion retailer and Topshop owner Asos. The company just announced that its stake in Asos is now almost 20 percent. In October last year, the level of participation was around five percent, in June this year it was just over seven percent. With almost 20 percent, the Frasers Group will soon be on par with the previous main shareholder, the bestseller owner Anders Holch Povlsen, who is said to hold around 26 percent.
Asos’ share price has plummeted over the past two years, making the company an attractive takeover target.
The Frasers Group has made a number of investments and acquired stakes in recent months, including British fast fashion retailer Boohoo, Hugo Boss and Mulberry. Troubled companies like Missguided and Gieves & Hawkes were taken over entirely by Frasers.