Übernahmeangebot HIS sportswear AG - 500 Beiträge pro Seite

[ueidenmu]

VF TO COMMENCE TENDER OFFER FOR H.I.S. SPORTSWEAR AG



Greensboro, NC - August 11, 2000 - VF Corporation (NYSE: VFC) announced today that it will commence its tender offer on August 14, 2000 to purchase all of the outstanding shares from the minority shareholders of H.I.S. Sportswear AG for 9.25 euros per share. Shares of the Garching, Germany-based company are listed on the Munich and Frankfurt exchanges. The tender offer will remain in effect until October 12, 2000.

VF also announced it had signed an agreement to acquire the majority holdings of H.I.S. Sportswear AG from Durango Apparel Inc. (formerly Chic by H.I.S., Inc.) subject to the successful completion of the aforementioned tender offer that would result in VF owning at least 75% of the shares of H.I.S. Sportswear AG. Plans to acquire H.I.S. Sportwear AG were previously announced on April 6, 2000.

H.I.S. branded jeans and casual pants for men and women are sold primarily through specialty and department stores in Europe. With 1999 sales of approximately $90 million, the H.I.S. brand is the leading women`s jeans brand in Germany. The brand will be added to VF`s European jeans unit, which also markets the Lee, Wrangler, Maverick and Old Axe brands.

"We welcome the opportunity to join forces with VF," commented Milan Danek, Sprecher des Vorstandes of H.I.S. Sportwear AG. "Together, we can create synergies and better serve the consumers in our markets."

Added Terry Lay, Vice President and Chairman, VF`s International Coalition, "The H.I.S. brand enjoys excellent brand awareness and visibility in Germany, one of our most important markets. We look forward to adding the H.I.S. brand to our growing portfolio."

With $5.6 billion in sales, VF Corporation is the world`s largest apparel company and a leader in jeanswear, intimate apparel, knitwear, workwear, playwear, daypacks and swimwear. Its principal brands include Lee, Wrangler, Riders, Rustler, CHIC, Gitano, Vanity Fair, Vassarette, Bestform, Lily of France, Lee Sport, Healthtex, Jantzen, JanSport, Eastpak, Red Kap and The North Face.

[philojoephus]

Thanks for posting. Hier in Deutschland sind die immer so langsam.

JOE