PPR BECOMES MAJORITY SHAREHOLDER OF SOWIND GROUP

La Chaux-de-Fonds (Switzerland) – Paris (France) – July 4, 2011.



Sowind Group and PPR jointly announced today the launch of a reserved capital increase of Sowind Group that will be fully subscribed by PPR. PPR will then become the majority shareholder of the company with a 50.1 % stake. PPR already owned a 23 % share based on a strategic partnership agreement signed in 2008 with Sowind Group, then controlled by Luigi Macaluso since 1992.

Sowind Group, which is one of the last independent Swiss watchmaking manufactures, has a presence in 60 countries, namely with the Girard-Perregaux and JeanRichard brands.

source: www.ppr.com

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