Global Cosmed to take over Global Cosmed Group

WSE-listed Global Cosmed will acquire Global Cosmed Group and its German subsidiaries by the end of May 2016, the company reported. The transaction value is to reach PLN 217 million. Global Cosmed will issue over 50 million new shares priced at PLN 4.1 a piece. In exchange for the issue it will acquire a 100 percent stake in Global Cosmed Group, the owner of such brands as KRET, SOFIN, APART, BOBINI. In December, Global Cosmed informed it was going o acquire Global Cosmed Group alongside its German subsidiaries. This transaction is to reach PLN 217 million and is to be finalized by May 2016. After completion of the transaction, Global Cosmed will also have a 75 percent stake in Hamburg-based Global Cosmed Group GmbH and Global Cosmed International GmbH.