Mike Ashley's Frasers Group buys 12.5% stake in Mulberry
Mike Ashley’s Frasers Group, formerly Sports Direct, has bought a 12.5% interest in luxury handbag maker Mulberry.
Frasers Group
615.50p
12:40 24/12/24
1.65%
10.00p
FTSE 250
20,571.51
13:00 24/12/24
n/a
n/a
FTSE 350
4,491.87
12:54 24/12/24
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FTSE AIM All-Share
717.40
13:14 24/12/24
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FTSE All-Share
4,449.61
13:14 24/12/24
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General Retailers
4,640.03
12:54 24/12/24
-0.11%
-5.26
Mulberry Group
107.00p
12:35 24/12/24
0.00%
0.00p
"A key strategic priority for Frasers Group is the elevation of our retail proposition and building stronger relationships with premium third party brands," it said on Monday.
"Frasers Group looks forward to working more closely with Mulberry for the benefit of shareholders of both companies."
The purchase price was not disclosed but based on Monday’s closing share price, the stake is worth just under £19m.