Frasers Group has taken majority control of Hugo Boss after increasing its holding in the German fashion group to 50.08 per cent.
An official voting-rights notification published by Hugo Boss shows that Frasers crossed the 50 per cent threshold on 23 October. The UK retail group holds 34,468,065 shares carrying voting rights.
Frasers also has put-option interests covering 15,050,100 shares, equivalent to a further 21.87 per cent of voting rights if exercised. Its combined disclosed position is therefore 71.95 per cent, although the options are not the same as shares currently owned.
The move follows Frasers’ public takeover offer earlier this year. At the end of the offer process in August, the Sports Direct and Flannels owner held 47.89 per cent of Hugo Boss.
Majority ownership gives Frasers control over ordinary shareholder votes and marks a significant expansion of its premium and luxury fashion interests.
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