Frasers Group Takes Control of Norway's XXL

Frasers Group takes control of Norway's XXL

UK sportswear and fashion group Frasers said that, according to preliminary results, it now controls over 92% of share capital in the struggling Norwegian sporting goods retailer XXL.

The new XXL owners cannot guarantee that XXL will continue to survive, but several industry leaders believe that Frasers Group has completely different intentions than closing down.

Frasers closes in on ailing Norwegian sportswear giant takeover

Frasers Group has confirmed that it is close to assuming a controlling stake in Norwegian sportswear company XXL ASA, but has warned that it may not be able to save the company. The group has confirmed that should its offer be accepted it will control 92% of the company’s share capital and 90% of its voting shares. In the statement confirming this, Frasers issued multiple warnings about XXL claiming it is in “significant distress”. Frasers launc…

Frasers nears control of distressed Norwegian sports giant - Retail Gazette

Frasers Group is closing in on a takeover of distressed Norwegian sportswear retailer XXL ASA, but warned that it was unsure whether the brand could be rescued. The Sports Direct owner said in March that it would make a mandatory offer for the remaining shares of the retail company after its stake surpassed 30%. In an update on Wednesday (29 May), Frasers reported that acceptances of its offer would result in it controlling more than 92% of the …