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STOCKS NEWS EUROPE-Escada seen up on report of unit sale
Shares in German luxury-fashion company Escada ESCD.DE rise 8.3 percent in pre-bourse trade making them one of the few German pre-market gainers after a report in the Frankfurter Allgemeine Sonntagszeitung says the company is in advanced talks with one suitor to sell its Primera subsidiary, which offers mid- to upper-market brands.
"If the sale of Primera is wrapped up, the company could regain share price development strength," says an analyst at Close Brothers Seydler.
Escada declines to comment.
A Frankfurt-based trader says: "Slightly positive but critical for the company's survival will be if capital reduction and subsequent capital increase can be conducted."
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