Kathmandu Holdings Limited
(ASX:KMD) says New Zealand listed Briscoe Group has taken a 19.9 per cent stake in the company and plans to launch a takeover.
The outdoors wear company cited a statement from Briscoe that showed the company added to its 4.99 per cent holding by taking a further 14.91 per cent stake from institutional investors at $NZ1.80 per share.
Briscoe says it will lodge a takeover notice imminently comprising both cash and scrip to all Kathmandu shareholders.
Briscoe Group is a major New Zealand retailer with a focus on homewares and sporting goods.
Kathmandu reported a net loss of $1.7 million in the first half of the 2015 financial year.
