Zalando, the online apparel retailer, is almost finished acquiring its rival, About You. The Berlin-based business said Friday that it has acquired over 90 percent of the capital of About You’s shares. This number excludes shares that are owned by About You.
Zalando intends to evict the remaining minority shareholders of About You from the business as soon as the share transaction is finalised and approved by the appropriate authorities. Based on the evidence, this might occur starting in the summer.
Zalando plans to combine About You with itself or a subsidiary in order to execute this so-called squeeze-out of minority shareholders. The squeeze-out may also occur directly if the ownership reaches 95 per cent of the relevant shares, it stated.
