Redcats to buy United Retail Group for 200 milllion dollars
today Sep 11, 2007
PARIS, Sept 11, 2007 (AFP) - Redcats, the mail order unit of French luxury goods group PPR, said Tuesday September 11th it plans to buy United Retail Group, a US large-size women's fashion group, for 199 million dollars (144 million euros).
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The US branch of Redcats will launch the offer and hopes to have completed the deal by the end of the year, the two groups said in a statement.
The board of United Retail Group has urged the company's shareholders to accept the deal.
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