LPP brands back to Poland

WSE-listed Polish clothing company LPP is going to acquire its subsidiary Gothas based in Cyprus which owns LPP's trademarks. The long-term aim of the merger is the restructurization within the group and simplification of capital structure of the group in order to optimize costs, LPP informed. The merger will not affect the shareholders financially. "A transparent structure of LPP and concentration of core assets in parent company (LPP) should positively influence the firm's perception," a representative of the company added. Consolidated net profits of LPP stood at PLN 479.55 million in 2014.