Data provided by McGregor BFA
All data is delayed
Loading...
See More

Richemont acquires VVSA

Oct 02 2012 16:48 I-Net Bridge

Company Data

COMPAGNIE FINANCIERE RICHEMONT SA [JSE:CFR]

Last traded 106.04
Change 0.6
% Change 0.01
Cumulative volume 1686041
Market cap 553.53bn

Last Updated: 23/04/2014 at 04:26. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Richemont to acquire Peter Millar

Richemont lifts 5-month sales 23%

Richemont forecasts rise in H1 profit

Businessman donates salary to charity

Richemont up as Swatch keeps target

Richemont shares drop nearly 5%

 
Johannesburg - Swiss based luxury goods group Richemont [JSE:RCH] has acquired 100% of the capital of VVSA in a private transaction with the shareholder group‚ it said on Tueaday.

Based in Delémont since 1962‚ VVSA is a high-end manufacturer of stamped exterior components for watches‚ gold refiner and producer of semi-finished precious metal products destined for the watch and jewellery industry.

A historical partner of Richemont's Maisons and Manufactures‚ VVSA and its 250 employees will reinforce the group's industrial capabilities via their established technical know-how and state-of-the-art equipment.

The current Directors of VVSA‚ Damien Donzé‚ Alain Munier and Béat Chételat‚ have confirmed their commitment to manage the company‚ which will continue to serve its existing clients.

The transaction will have no material impact on Richemont’s consolidated net assets and is not expected to have any impact on the group’s profitability for the year ending March 2013, it said on Tuesday.

* Follow Fin24 on TwitterFacebookGoogle+ and Pinterest.  
 
richemont  |  acquisitions
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Land reform process lawful - Zuma

The land reform process is being done according to the law and the Constitution, says President Jacob Zuma.

 
 

Latest elections multimedia

11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille
The EFF's ad was banned, see why
Why Jack Parow wants you to vote on 7 May

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...