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Frasers Group PLC - Shirebrook, England-based retail group which owns stores House of Fraser and Sports Direct - Acquires a 28.7% holding in the Australian-based fashion marketplace MySale Group PLC.
Frasers says this creates an opportunity for a strategic partnership whereby end of line products can be cleared via an established clearance channel. This pipeline will be enhanced by the benefits of counter seasonality between the European and Australian climates, the company adds.
Frasers:
Current stock price: 660.00 pence, down 1.7% on Thursday
12-month change: up 9.5%
MySale:
Current stock price: 1.59 pence, up 28% on Thursday
12-month change: down 79%
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