PPR Becomes the Majority Shareholder of Sowind Group
Sowind Group and PPR jointly announced today the launch of a reserved capital increase of Sowind Group that will be fully subscribed by PPR. PPR will then become the majority shareholder of Sowind with a 50.1 % stake. PPR already owned a 23% share based on a strategic partnership agreement signed in 2008 when Sowind was controlled by Luigi Macaluso, who passed away in October last year. The transaction allows PPR's Luxury Group to strengthen its presence in the haute horlogerie segment while supporting Sowind Group's international development. Sowind Group includes Girard-Perregaux and JeanRichard. Under the agreement, Francois-Henri Pinault becomes Chairman of Sowind Group, alongside Monica Mailander Macaluso, who becomes Vice-Chairman.Sowind Group, which is one of the last independent Swiss watchmaking manufactures, has a presence in 60 countries, namely with the Girard-Perregaux and JeanRichard brands.Fran?ois-Henri Pinault said: This operation strengthens PPR's Luxury Group in the

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