VIENNA, June 9 The main shareholders of Austrian
textiles company Wolford are looking to sell an
undefined majority stake in the company, the group, which is in
the process of restructuring to turn around its current
loss-making business, said on Friday.
"WMP Familien-Privatstiftung, Sesam Privatstiftung and its
subsidiary the M. Erthal & Co. Beteiligungsgesellschaft ... as
well as related parties announced today the intention to sell
their stake, which is a majority stake, in Wolford AG," it said.
Wolford, which makes high-end tights, bras and shirts, said
it and its shareholders together with Deloitte are starting to
look for a new investor.
"The purchase of the majority stake by a future core
shareholder shall be combined with an equity financing
transaction that shall strengthen the company's liquidity on a
long-term basis. The issue size has not yet been determined."
In the meantime, Wolford is negotiating with its banks to
secure the money to meet its liquidity requirements, it said,
without giving details.
(Reporting By Shadia Nasralla; Editing by Hugh Lawson)