Zara Owner Gets Approval to Sell Russian Business to UAE’s Daher
Inditex, the Spanish fashion giant that owns the Zara clothing chain, has received approval to sell its Russian business to UAE-based Daher Capital. The deal, which was announced in March, is expected to close in the coming weeks.
Background of the Deal
The agreement between Inditex and Daher Capital was first announced in March. Under the terms of the deal, Daher Capital will acquire Inditex’s Russian business, which includes the Zara, Bershka, and Pull & Bear brands. The deal is valued at €1.2 billion ($1.4 billion).
The sale of Inditex’s Russian business is part of the company’s strategy to focus on its core markets in Europe and the Americas. Inditex has been looking to divest its non-core businesses in recent years, and the sale of its Russian business is the latest in a series of divestments.
Daher Capital’s Expansion Plans
Daher Capital is a private equity firm based in the United Arab Emirates. The firm has been expanding its portfolio in recent years, and the acquisition of Inditex’s Russian business is part of its strategy to become a major player in the fashion industry.
Daher Capital plans to use the acquisition to expand its presence in Russia and the CIS region. The firm has already established a presence in the region through its investments in the retail and fashion sectors.
Inditex’s Global Strategy
Inditex is one of the world’s largest fashion companies, with more than 7,000 stores in 88 countries. The company has been focusing on its core markets in Europe and the Americas in recent years, and the sale of its Russian business is part of its global strategy.
Inditex has been divesting its non-core businesses in order to focus on its core markets. The company has already sold its businesses in China, India, and the Middle East. The sale of its Russian business is the latest in a series of divestments.
The Impact of the Deal
The sale of Inditex’s Russian business is expected to have a positive impact on both companies. For Inditex, the sale will allow the company to focus on its core markets and strengthen its financial position. For Daher Capital, the acquisition will give the firm a foothold in the Russian market and expand its presence in the fashion industry.
Daher Capital’s Commitment to Russia
Daher Capital has committed to investing in the Russian market and has already established a presence in the region. The firm has invested in a number of retail and fashion companies in the region, and the acquisition of Inditex’s Russian business is part of its strategy to become a major player in the fashion industry.
Conclusion
Inditex’s sale of its Russian business to Daher Capital is part of the company’s strategy to focus on its core markets in Europe and the Americas. The deal is expected to close in the coming weeks and will have a positive impact on both companies. Daher Capital plans to use the acquisition to expand its presence in Russia and the CIS region, and the firm has already established a presence in the region through its investments in the retail and fashion sectors.