In bad shape, the Chinese group Shandong Ruyi is obviously ready to do anything to keep in its fold its French nugget, the SMCP group, owner of the Sandro, Maje, Claudie Pierlot and Fursac brands.
On Wednesday, we learned that the Luxembourg company European TopSoho, a subsidiary of Shandong Ruyi, had sold at the beginning of November its crucial block corresponding to 16% of the capital of SMCP to… the daughter of the founder of the Chinese company, Chenran Qiu.
And this for 1 euro, while the participation was worth 125 million euros that day.
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SMCP is getting closer to its pre-crisis sales, driven by the United States and Asia
More specifically, the buyer is a company located in the British Virgin Islands, of which the sole shareholder is Chenran Qiu.
It was the creditors of European TopSoho who obtained this information from the courts, lifting the mystery on this transaction, which remained anonymous.
Brought together in a trust called Glas, these funds (BlackRock, Carlyle, Anchorage, Boussard & Gavaudan) are in conflict with the Chinese protagonists.
The battle is Homeric.
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