2 weeks ago
4
The announcement, which was made via the Oslo Stock Exchange, revealed that Frasers, already the second largest shareholder in XXL ASA, intends to launch a voluntary offer for the remaining shares in XXL.
The offer, priced at 10 Norwegian kroner (71p) per share, values the retailer’s fully diluted share capital at approximately 246.3m (£17.45m) kroner.
Frasers Group already has around 32.5% of the voting rights and 25.8% of the issued share capital in XXL.
Michael Murray, CEO of Frasers, said: “Our strategic vision and industry experience position us uniquely to help XXL navigate its current challenges. We are committed to ensuring that XXL reaches its full potential.”
Further details of the offer, including timings, have not yet been disclosed.
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