Garant Schuh + Mode AG, a European specialty retailer for shoes, sports goods and leatherwear, sold subsidiary Pasito-Fricker to Ludwig Görtz GmbH.
Pasito-Fricker operates approximately 60 shoe shops in Switzerland in the luxury, fashion and family segments. With the takeover of 99,97% of the share portfolio held by GARANT (retroactive to January 1st, 2010) Görtz enters the Swiss market. GARANT continues to coordinate Central Regulation for Pasito-Fricker.
The DRSdigital virtual data room was chosen as the due diligence platform for the transaction. The DRSdigital platform provides an optimal foundation for the easy and efficient execution of online due diligence. Using this highly secure virtual data room, all transaction relevant data can be accessed via web at any time and from any location that has web access. The industry-leading speed of the unique document viewing technology enables due diligence analysts to work faster and more comfortably. In addition to the viewer, DRSdigital also supplied the Q&A Management system that is integrated into its virtual data room.
In November 2009 GARANT commissioned the investment bank Sal. Oppenheim (Corporate Finance Team in Zurich) for the search for a strategic partner for Pasito-Fricker.
The parties involved have agreed not to disclosure the details of the share purchase agreement.
DRSdigital is a transaction services provider specializing in highly secure, fast and reliable virtual data rooms. DRSdigital data rooms can be used for a variety of purposes as the solutions and services are customized to each customerВґs specific needs. DRSdigital facilitates complex transactions in the areas of M&A, Private Equity, Non-Performing Loans and Initial Public Offerings although the transaction specialist is likely best known as the market leader for large cap real estate transactions.
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