Shirebrook-based retailer Frasers Group has revealed a cash offer to acquire the entire issued and to be issued ordinary share capital of MySale not already held by the business for 2 pence per share.
The Australian-based fashion marketplace connects global buyers and sellers to Australian and New Zealand ecommerce sites.
The news comes after Frasers Group acquired a 28.7% stake in MySale earlier this year.
The offer values the rest of the company at approximately £13.6 million.
Frasers Group said it has “extensive ambitions to grow its business outside of the UK and is exploring the potential for further international expansion through acquisitions, joint ventures and organic openings.”
The company noted it has not made an approach to, or had any discussions with, MySale management in relation to the offer.
Frasers Group added that it intends to invest in MySale and use MySale as a vehicle for making other investments in the region.
