Bonia subsidiary buys stake in German leathergoods m - leatherbiz: Lea Leatherbiz

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Bonia subsidiary buys stake in German leathergoods maker

04/01/2012

Malaysian fashion company Bonia Corporation Berhad has announced that its 70%-owned subsidiary, Jeco Pte Ltd, has acquired a stake in German leathergoods maker Braun Büffel in a deal worth EUR3.2 million.

 

The transaction includes 49% equity interests in Braun Verwaltungs-GmbH and Braun GmbH & Co KG (Braun KG) respectively for a total cash consideration of EUR980,000, as well as the acquisition of the Braun Büffel trademark that is registered in the UAE, the US and Canada for EUR20,000.

 

Jeco will also settle the total debts of EUR3.15 million owed by Braun KG to Sparkasse Rhein-Nahe with a lump sum of EUR2.2 million.

 



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