INTERNATIONAL. Malaysian fashion company Bonia Corporation Berhad has announced that its 70%-owned subsidiary, Jeco Pte Ltd, has acquired a stake in German leathergoods maker Braun Büffel in a deal worth €3.2 million.
The transaction includes 49% equity interests in Braun Verwaltungs-GmbH and Braun GmbH & Co KG (Braun KG) respectively for a total cash consideration of €980,000, as well as the acquisition of the Braun Büffel trademark that is registered in the UAE, US and Canada for €20,000.
Jeco will also settle the total debts of €3.15 million owed by Braun KG to Sparkasse Rhein-Nahe with a lump sum of €2.2 million.
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