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Wolford shareholders' group seek to sell majority stake

By Vivian Hendriksz

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Report

The leading shareholders of Wolford are currently looking to sell their undefined majority stake in the textile company. The move comes as the Austrian-based company restructures its business in an attempt to cut its losses.

WMP Familien-Privatstiftung, Sesam Privatstiftung and its subsidiary the “M. Erthal & Co.” Beteiligungsgesellschaft, as well as related parties, announced their intention to sell their majority stake in Wolford Friday morning. The shareholders are working together with Deloitte and Wolford to find a suitable investor for the company, which is best known for its high-end hosiery and underwear.

“The purchase of the majority stake by a future core shareholder shall be combined with an equity financing transaction that shall strengthen the company’s liquidity on a long-term basis. The issue size has not yet been determined,” said the company in a statement.

The textile company added that it is currently negotiating with financing banks to secure the financing needed to meet the liquidity requirements up until an investor is found.

Photo: Courtesy of Wolford

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