Qatar Luxury Group S.P.C. (QLG), through its 100 percent owned subsidiary Qatar Luxury Group – Fashion S.P.C., acquired all the capital shares of Le Tanneur & Cie, namely a total of 2,326,171 securities titles representing 52.73 percent of capital and 52.60 percent of the voting rights (on a fully diluted basis) from the family group Descottes, the D&P PME IV shares and Saint Germain Participations’ shares.
It is worth mentioning that the family group Descottes, the D&P PME IV and the Saint Germain Participations are not acting together.
The acquisition price for those three entities has been set at €6.51 per share. This agreement came after the positive opinion given by representative bodies of Le Tanneur & Cie, said Qatar Luxury Group in a news release yesterday.
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