1 825
Fashion Jobs
L'OREAL GROUP
National Account Manager - Grocery
Permanent · MELBOURNE
L'OREAL GROUP
Assistant Brand Manager
Permanent · MELBOURNE
TRP RECRUITMENT
Senior Buyer - Womenswear
Permanent · CANBERRA
MYER
Retail Property Manager
Permanent · DOCKLANDS
MYER
Uniformed Loss Prevention Officer | North Lakes
Permanent · NORTH LAKES
MYER
Uniformed Loss Prevention Officer | Garden City, Carousel & Karrinyup
Permanent ·
MYER
Uniformed Loss Prevention Officer | Garden City, Carousel & Karrinyup
Permanent · KARRINYUP
MYER
Uniformed Loss Prevention Officer | Adelaide City & Tea Tree Plaza
Permanent · ADELAIDE
MYER
Uniformed Loss Prevention Officer | Adelaide City & Tea Tree Plaza
Permanent · MODBURY
MYER
Uniformed Loss Prevention Officer | Sydney City, Bondi, Eastgardens & Chatswood
Permanent · BONDI
MYER
Uniformed Loss Prevention Officer | Sydney City, Bondi, Eastgardens & Chatswood
Permanent · CHATSWOOD
MYER
Uniformed Loss Prevention Officer | Sydney City, Bondi, Eastgardens & Chatswood
Permanent · EASTGARDENS
MYER
Uniformed Loss Prevention Officer | Sydney City, Bondi, Eastgardens & Chatswood
Permanent ·
MYER
Uniformed Loss Prevention Officer | Miranda
Permanent · MIRANDA
UNILEVER
Site Training Coordinator
Permanent · MINTO
UNILEVER
Health & Wellbeing Regulatory Affairs Assistant Manager
Permanent · NORTH ROCKS
BULGARI
Sales Administrator
Permanent · SYDNEY
H&M
Facilities Manager
Permanent · SYDNEY
NIKE
Technical Operations Specialist - Pacific
Permanent · MELBOURNE
BOARDRIDERS
Anz Business Intelligence Manager
Permanent · BYRON BAY
SAINT LAURENT
Saint Laurent Finance Manager Anz
Permanent · SYDNEY
COTY
Influencer Marketing Manager (Rimmel & Maxfactor)
Permanent · SYDNEY
Published
Jul 7, 2017
Reading time
2 minutes
Download
Download the article
Print
Text size

Highclere International sells stake in Oroton Group

Published
Jul 7, 2017

UK fund manager Highclere International has sold its entire 7% in Oroton Group this week, as the Australian leather and accessories edges closer to a potential sale and change of ownership.


Highclere served as Oroton's fourth biggest shareholder - Oroton Group


Highclere sold 2.9 million shares through Angus Aitken's Aitken Murray Capital Partners, just before the market opened on Thursday at A$1 a share, as reported by the Australian Financial Review.

Highclere's stake was reportedly bought by a listed player -- not investors -- with industry sources pinning the grab on Gazal Corp, the Australian distributor of brands PVH Corp.-owned Calvin Klein and Tommy Hilfiger.

Gazal Corp chief Patrick Robinson, a former senior executive at department store major David Jones, could not be contacted for comment.

The other potential investors churning the rumour mill are Solomon Lew and the magnate's Premier Investments, as well as Gerry Harvey, founder of furniture and electrical retail chain, Harvey Norman.

Before the sale, Highclere served as Oroton's fourth biggest shareholder after the founding Lane family, Caledonia Funds Management chief investment officer Will Vicars and IOOF Holdings. The British fund took a majority stake in 2015, when Oroton shares were flushing between A$2.12 and $2.69 each.

The news comes one month after Oroton Group appointed investment bank Moelis & Co to conduct a strategic review and consider other options including a sale, a capital raising or refinancing of debt facilities after receiving approaches from potential buyers.

OrotonGroup issued its second profit downgrade in five months in May, warning that earnings would dive 75 per cent this year. 

Copyright © 2024 FashionNetwork.com All rights reserved.