Redcats USA, part of the PPR group, said it has secured 83.9 pct of shares in United Retail Group following its recent takeover offer.

The mail order retailer announced last month an agreement to acquire United Retail Group for 13.70 usd per share in cash, or an aggregate equity value of 198.9 mln usd.

Redcats USA said it will launch today a subsequent offer period, with the same 13.70 per share cash consideration, that will expire on October 31, unless further extended.

United Retail Group sells large-size women's fashion apparel, footwear and accessories, and operates operates 483 stores under the Avenue banner.
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