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Frasers Group PLC has increased its interest in German fashion designer Hugo Boss AG by 1.5 percentage points, according to a company statement on Friday.
The FTSE-100 Derbyshire-based department store operator has a 30% interest via put options that it has sold, up from 28.5% as of October 24, while still owning 4.3% of the shares of Hugo Boss. This gives a 34.3% interest, up from 32.8% previously.
The company said after taking into account the premium it will receive for the put options, its maximum aggregate exposure its interest in Hugo Boss is around €1.0 billion.
On October 24, the SportsDirect owner said its maximum exposure for the interest in Hugo Boss was €960 million, up from €900 million in June. Back then, it held a 4.9% stake via shares and a further 26% via options.
Earlier in October, Frasers also bought a 5.1% stake in FTSE 250-listed online retailer Asos PLC. That would make Frasers the sixth largest shareholder in Asos, according to data from Morningstar.
Shares were up 2.5% at 662.00 pence on Friday afternoon in London.
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