OVS-backed Sempione offers to buy Swiss retailer Charles Voegele
today Sep 20, 2016
The consortium Sempione Retail on Monday offered to buy struggling Swiss retailer Charles Voegele Holding.
Sempione, made up of Italy's OVS, financial investor Aspen Trust Services and Retails Investment S.R.L, is offering 6.38 francs (US$6.97 per bearer share in cash for Voegele, a 2.1 percent premium to its closing price on Friday, Voegele said in a statement.
The premium price would value the company at about 56.1 million Swiss francs (US$57.23 million), based on Thomson Reuters market capitalisation data.
Voegele has been closing stores and cutting jobs amid a prolonged slump that has led to hundreds of millions in losses over the last five years.
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