Otto seeks investor for fashion start-up About You – Nasdaq

Reuters

FRANKFURT, Oct 17 (Reuters) - German retailer Otto Group is in search of an investor for its fashion start-up About You to assist fund worldwide enlargement, a spokesman for the group mentioned on Tuesday, confirming a report by each day Boersen-Zeitung.

Household-owned Otto has employed Goldman Sachs to assist discover a purchaser for a stake in About You, the spokesman mentioned, declining to remark additional.

Boersen-Zeitung had cited monetary sources as saying that Otto may promote 25 to 30 % of About You by way of a capital enhance. A inventory market flotation can be doable within the medium time period, the paper had mentioned.

Otto holds 94 % of the unit, whereas ProSiebenSat.'s Seven Ventures and Berlin-based mostly German Media Pool maintain the remaining 6 %.

($ = zero.8503 euros)




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Otto seeks investor for fashion start-up About You - Nasdaq