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Wortmann acquires ara's stake in a + w shoes
14.07.2011 4415

Wortmann acquires ara's stake in a + w shoes

By June 1, 2011, the Wortmann concern, headquartered in the German city of Detmold, acquired the share of ara from the German city of Langenfeld in a + w shoes GmbH & Co. KG to the start of the new fiscal year. Thus, subject to the expected consent of the Federal Office for Antimonopoly Federal Republic of Germany, today the Wortmann group is the sole shareholder of a + w shoes. A + w sells comfort shoes under the Jana brand.

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 the share of ara from the German city of Langenfeld in a + w shoes GmbH & Co. KG to ...
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