Bestseller-owner to take full control of Stylepit

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First he said he won’t invest any more money.

Now Bestseller-owner, Anders Holch Povlsen, makes a turnaround regarding the digital clothing store Stylepit.

Today, he wants to buy more than 50 percent of the shares and votes in the company.

Styelpit was founded in 2000 by cousins ​​Nicolai Kærgaard and Christian Kusk as Smartguy, and has been listed since 2012. Last year the share dropped 82.5 percent.

Difficult relations with the founders has scared many investors from the fashion company. In May Nicolai Kærgaard was kicked away from the post of chairman of the board, after which financier Ole Abildgaard and his partner Heidi Sommer entered the company as new shareholders.

Anders Holch Povlsen, who today owns about 25 percent of the company, has due to the problems announced a closed purse for Stylepit, but now he’s going for the whole company and buy the controversial Nicolai Kærgaard out of the company.

Nicolai Kærgaard has, according to the stock exchange release pledged to sell his share of 24.3 percent to Anders Holch Povlsen, giving him a total stake of 48.2 percent.

 

On Wednesday morning, Anders Holch Povlsen submitted a bid to the other shareholders in the online clothing store Stylepit (previously known as Smartly). He offers to pay 0.20 DKK per share, representing a premium of 100 percent in relation to the rate which currently shares can be subscribed for in the rights issue.

 

 

The takeover offer is subject to the relevant competition authorities.

Anders Holch Povlsen has recently showed a a lot of interest in online pure player as co-owner of online stores like Nemlig.com, Swedish Mathem.se and British Asos.