Mittal invests 5 million euros in a German company

Mr. Lakshmi Mittal, a steel tycoon of Indian origin, invested 5 million euros in the maternal German company Etailer Zalando. Mittal, reported, became one of the several investors of the Bigfoot missile and space, the Motherland company Zalando.

The main investors include: Kurt Rudolf Schwartz, the heir to the German pharmaceutical giant Schwarz, who invested 10 million euros; Ukrainian billionaire Mr. Viktor Pinchuk with an investment volume of 15 million euros and the Colombian financial magnate of Mr. Alehandro Santo-Domingo, which was invested 25 million euros.

The question of investments was publicized after the documents intended for potential Zalando investors leaked to the pages of one of the German magazines. It is assumed that the Zalando maternal company uses investments to support and modernize various subsidiaries in Latin America, India, Russia and the Middle East.

This is not the first time that the MitTal family is invested in German business. In November 2009, the German female brand Escada was sold to the daughter of Mr. Mittal, namely, Megha Mittal for an unnamed amount. Mr. Mittal is now worth the GBP 100000000 and is one of the richest people in the world. 40 percent of the share of Mittal and his wife USHA consists in Arcelormittal, a steel giant.

In February 2013, Drapers showed that Zalando expanded the scale of its main office in London. The work of 18 consulting departments in London was established.