Ontario invests in online retailer Zalando

Wed Oct 2, 2013 4:11am EDT
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FRANKFURT Oct 2 (Reuters) - The Ontario Teachers' Pension Plan (OTTP) bought a 2 percent stake in Europe's biggest online fashion retailer Zalando, continuing a push into e-commerce investment for the group.

Berlin-based Zalando said on Wednesday OTTP took the stake as part of a 4 percent capital increase at the group.

Danish fashion magnate Anders Holch Povslen, who bought a 10 percent stake in Zalando in August, also took part in Wednesday's capital increase to keep his share at 10 percent

Zalando managing director Rubin Ritter declined when asked by Reuters to give the amount paid by OTTP for the 2 percent stake.