Semir to buy French Sofiza

Source:Global Times Published: 2018/5/17 21:53:41

Semir, a Chinese casual clothing company, announced Wednesday plans to set up a wholly owned subsidiary in Hong Kong, through which Semir plans to buy France's Sofiza SAS, industry news site news.cfw.cn reported on Thursday.

Reuters reported on May 2 that Semir plans to acquire Sofiza for about 110 million euros ($132 million) in a bid to buy Kidiliz Group's asset. Sofiza owns 100 percent stake in Kidiliz, a French child fashion brand.

The move will help Semir further improve its business deployment and advance its pace in the global market, the news.cfw.cn report said, noting that the investment is being financed by internal capital, and the deal won't affect the company's operating capital.

Posted in: COMPANIES

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