Last Updated: 2006.06.15
FAST RETAILING brings forward purchase of extra stake in French firm NELSON FINANCES
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FAST RETAILING CO., LTD.
In the news release dated January 12, 2006, FAST RETAILING CO., LTD. announced plans to increase its stake in consolidated subsidiary NELSON FINANCES S.A.S. NELSON is the developer of the “COMPTOIR DES COTONNIERS” French casual clothing brand in Europe. However, following its board meeting held on June 15, 2006, FR has decided to adjust the schedule for the additional stock purchase. The additional stock purchase will now be completed in June of this year through FR’s consolidated subsidiary FR FRANCE S.A.S. Details of the new transaction are laid out below.
1. Why accelerate the NELSON stock purchase?
The FAST RETAILING group first acquired management control of NELSON in May 2005. Accelerating the purchase of the additional stake will enable the FR group to become more pro-actively involved in generating growth for the COMPTOIR DES COTONNIERS” brand. And, in so doing, we aim to further enhance the corporate value of the FR group.
2. Schedule for increased stake purchase in NELSON
In line with these latest changes in the purchase schedule, FR now expects to complete the purchase of the third tranche of NELSON stock (originally scheduled for July 2007) concurrently with the second tranche purchase in June 2006. Following this additional stock purchase, the direct FR FRANCE S.A.S. stake in NELSON is expected to rise from the current 31.53% to 95.30%.