Garant Schuh + Mode AG, a European specialty retailer for shoes, sports goods and leatherwear, sold subsidiary Pasito-Fricker to Ludwig GГ¶rtz 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) GГ¶rtz 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.
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