Wortmann acquires ara's stake in a + w shoes
By June 1, 2011, the Wortmann concern, headquartered in the German city of Detmold, acquired a share of the ara concern from the German city of Langenfeld in a + w shoes GmbH & Co. KG for the start of the new fiscal year. Thus, subject to the expected agreement from the Federal Office for Antimonopoly Policy of the Federal Republic of Germany, Wortmann is currently the sole shareholder of a + w shoes. A + w sells footwear under the Jana comfort class.
Concerns Wortmann and ara, which are among the leading footwear manufacturers in Europe, report that the decision was made due to increasingly stringent restrictions on antitrust law in the area of joint ventures.
The results of negotiations on the creation of the initially planned joint venture with Salamander showed that joint ventures of this kind, even if partners are involved in the same industry, may face risks in the future related to the antitrust law. This is supported by a number of decisions taken by the Federal Antimonopoly Policy Office of the Federal Republic of Germany in the recent past.
However, partners are confident that this solution can create the necessary entrepreneurial foundation, which in the future will guarantee the success of a + w.
By June 1, 2011, the Wortmann concern, headquartered in the German city of Detmold, acquired a share of the ara concern from the German city of Langenfeld in a + w shoes GmbH & Co. KG to ...
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