Monnari wants to buy Simple brand

WSE-listed fashion retailer Monnari filed a non-binding offer to WSE-listed peer Gino Rossi to acquire 100 percent stake in Simple Creative Products, which owns Simple brand. The offer is between PLN 46-50.5 million assuming zero level of debt and cash which will be the basis for determining the final price. Monnari said it would finance the transaction with own funds and gave Gino Rossi February 23 deadline to be granted exclusive negotiations rights. Back in November last year, Gino Rossi said that it is prepared to sell Simple brand.