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Richemont extends YNAP bid review

Swiss luxury goods group Richemont has extended the review period for its Yoox Net-A-Porter (YNAP) group takeover by up to 15 days.

The group said it took the decision to give Italian market regulator Consob more time to examine YNAP’s financial data as at 31 December 2017.

These figures are due to be approved by the board of directors on 6 March.

Richemont, which owns luxury brands including Cartier, Montblanc and Chloé, launched its €5.1bn (£4.5bn) takeover bid for YNAP last month.

 

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