Bestseller now a majority owner in Stylepit

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Fashion Group Bestseller and its owner Anders Holch Povlsen has now obtained the purchase of a majority stake in Danish online store Stylepit. But the completion of the offer is postponed because as it lacks all approvals.

Bestseller offered to buy the minority shareholders’ shares in Stylepit for 20 DKK per share, corresponding to a total price of 150 million DKK. The offer period has now expired, and Bestseller now controls 58.95 percent of the shares and votes.

The offer period is now extended to 10 December 2015. All approvals from competition authorities are not yet accomplished – and the goal is to reach over 90 percent of the stakes so Stylepit can be taken off the Copenhagen stock exchange.