Swiss finance group Finartis takes control of ESCADA's largest shareholder HMD Investment Partners LP
ESCADA AG Board of Management has been informed that as of May 12, 2006 the Swiss finance group Finartis through its asset management company 'European New Horizon (ENH)' has acquired 100 percent control of ESCADA AG's largest shareholder, HMD Investment Partners LP, from HMD Partners.
HMD Partners had lately been ESCADA's largest shareholder with almost 27 percent of the voting rights and capital in the company.
HMD Partners initiated this investment in ESCADA in October 2003 through capital measures.
Finartis Group is based in Geneva and manages a diversified pool of assets with investments in stock-listed companies and other investments including private equity and real estate.
As part of the transaction, HMD Investment Partners LP has been renamed FCMH Fund LP.
ESCADA is a leading fashion house which offers coordinated apparel, accessories and fragrance collections for day, weekend, evening and sport. Under its core brand ESCADA, the ESCADA Group sells women's designer fashions (ESCADA Collection and ESCADA Sport) for daytime, evening, business, leisure, sports, luxury spa and special occasions as well as couture.
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