Belgian footwear retailer Brantano is to be taken over by Sumi NV, a subsidiary of non-food retailer Macintosh Retail Group N.V. after it secured 95.5% of Brantano’s share capital thus meting the required conditions under which an offer can be made.

According to Macintosh, as the applicable statutory conditions have been met, Sumi NV has now launched a squeeze-out bid which will last from January 2, to January 22 inclusive, based on the same offer price (€55 per share).

Macintosh specialises in the distribution of consumer products in the Benelux and the surrounding countries.

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