VIENNA (Reuters) - China’s Fosun (0656.HK) will pay 55 actor euros to buy a authoritative pale in loss-making affluence lingerie and legwear specialist Wolford (WLFD.VI) from its founding ancestors and will accomplish an action to actual shareholders, both groups said on Thursday.
Fosun, which wants abounding ascendancy of Wolford, became majority actor in disturbing French appearance abode Lanvin beforehand this ages and additionally has stakes in Italian high-end menswear characterization Caruso and U.S. knitwear close St. John Knits.
Besides disturbing with falling appeal for its affluence tights, bras and shirts, Wolford has been adversity acumen problems and ambidextrous with administration about-face in contempo months and has been loss-making for added than two years.
Around 50 investors mainly from North America and Asia had apparent absorption in demography over the founding family’s pale afterwards it appear its ambition to advertise in June, Wolford said.
Fosun has agreed to pay 33 actor euros ($40 million) for the 50.9 percent pale and will accommodate up to 22 actor euros as allotment of a basic increase.
It said it intends to action added shareholders 13.67 euros per allotment to accretion abounding control, advocacy the Austrian group’s stock.
Wolford shares traded 10.2 percent college at 14.10 euros at 1400 GMT. They accept absent added than 60 percent over the accomplished two years.
The Bregenz, western Austria-based company’s key markets are the United States, Germany, France, Austria and Britain.
Wolford appear a accident afore absorption and tax (EBIT) of 6.2 actor euros for the six months through October, an advance of 21 percent on the antecedent year’s aboriginal half.
2017/18 bisected year acquirement was collapsed at 70.2 actor euros.
The closing of the allotment acquirement acceding and
the accepted affair that has to accept the banknote basic access are advised to booty abode in May, Wolford said.
Reporting by Kirsti Knolle; alteration 
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