Redan seeks investors for Textilmarket

WSE-listed clothing sector firm Redan plans to sell a 25-percent stake in Adesso, responsible for the Textilmarket brand, to PE fund 21 Concordia 1, Puls Biznesu reports. The deal, worth PLN 35 million, should be concluded before the end of August. The Textilmarket brand is especially designed to be distributed through supermarket and discount store chains. Redan and the new investor a;ready have further plans for Adesso. It could be floated either on NewConnect or on the main market of the Warsaw Stock Exchange. “We would like to raise funds for development,” Redan’s Deputy CEO Bogusz Kruszyński told the daily.