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DSW buys stake in Canadian shoe retailer
New York -- DSW has closed on its acquisition of Town Shoes Limited, the largest footwear and accessories retailer in Canada, for $68.7 million in cash. DSW acquired a 49.2% interest in Town Shoes from certain clients of Alberta Investment Management Corporation (AIMCo) and other minority shareholders.
DSW's initial stake provides 50% voting control and board representation equal to the primary remaining shareholder, Callisto Capital. Peter J. Solomon Company served as financial advisor to DSW Inc.