- Angela Gonzalez-Rodriguez |
French investment fund LBO has got the green lights to move on with the acquisition of fashion brand IKKS. The European Court of Competence approved the transaction on June 17.
The European Commission said on June 17 that it had given the green light to the acquisition of ready-to-wear fashion group IKKS by the capital investment company LBO France.
LBO France had announced in early April it entered into exclusive negotiations with Roger Zannier for the repurchase of his business IKKS (IKKS brand, One Step and I.Code).
After reviewing the file, "the Commission concluded that the redemption proposal did not raise any competition, overlaps between the activities of both companies are very limited," said in a statement the European institutions.
The price of the transaction remains unspecified.
The IKKS group, which is positioned in the segment of "casual chic", has a network of 526 shops and also markets its products in multi-brand retailers and online.