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GUM to acquire 45% in Bosco di Ciliegi


2010-08-30

GUM Trading House is to consider the offer of Bosco di Ciliegi, a clothing retailer operating on the Russian market, to acquire 45% in its managing company Vostok & Zapad Group. If GUM agrees to buy the share by 9 September 2010, it will have to pay RUB 5.56bn ($181.1m) for 392,000 shares. After the deal the owner of Bosco di Ciliegi Michael Kusnirovich will retain a control stake of 51%.

Bosco di Ciliegi manages over 100 mono-brand clothing stores, as well as a shoe chain and the jewellery stores network. In addition, the company operates multi-brand outlets Bosco Donna, Bosco Uomo, Bosco Bambino and Bosco Scarpa.

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