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Online Fashion Retailer Zalando Selling Stake Worth $465 Million

Zalando SE, Europe’s largest online fashion retailer, is selling 17.9 million existing shares after reporting its first full-year profit.

Zalando plans to sell a 7.3 percent stake, valued at about 434 million euros ($465 million) at current market prices. Key shareholders Global Founders Capital GmbH, Holtzbrinck Ventures GmbH, AI European Holdings Sarl and Rocket Internet AG are all reducing their stakes, according to a statement, as well as some of the company’s management.