The Benetton family which owns the famed namesake brand, plans to buyout minority shareholders, which will help the company delist from the bourses.
The Benetton family will pay €4.60 per share which will cost it around €276.6 million. The minority stakes will be bought by Edizone, the holding company of the Benetton family.
The Benetton family which holds 67.1 percent stake in the clothing company has 6,400 stores in around 120 countries of the world.
In a statement, Benetton said the buyout would provide its management a free leverage in running the group.
The retailer is facing multiple challenges like lower margins, high raw material costs and weak consumer demand.
Fibre2fashion News Desk - India
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