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fashion house Roberto Cavalli found an investor and almost agreed to sell 60% of its shares, according to celebrity.yahoo.com. Buyer could be a Russian investment bank “VTB Capital».
Italian designer looking for an investor for several years. Previously it was assumed that the owner of the shares of the fashion house would be the private equity fund Permira. On the eve of the publication Women’s Wear Daily reported that the fashion house is now interested in another company – “VTB Capital”. Citing anonymous sources, the publication argues that the value of the deal could be around € 500 million euros ($ 667.5 million). If the contract is signed on such terms as the cost of the brand Roberto Cavalli will be € 830 million, or $ 1.1 billion.
Source VTB Group and a person familiar with the management of the fashion house, confirmed to “Vedomosti” about the investment interest in buying a stake in Roberto Cavalli. One of the interviewees confirmed that discusses the acquisition of 60% of the fashion house. Both men say that a final agreement yet.
The negotiations are successful, according to the publication celebrity.yahoo.com. To complete the transaction designer apparently even cut short his summer vacation. It is expected that it will be completed in October.
Participation “VTB Capital” in negotiating the purchase of a European company on the background of the “war of sanctions” “reflects market expectations that the sanctions will not be long,” commented, “Vedomosti” co-owner Esper Victor Group Shchukin. Many fashion houses are going through difficult times since the beginning of the talk of sanctions and with the introduction of the Russians began to buy abroad much less luxury goods, he said.
The deal with Roberto Cavalli could be the first investment of the Russian company in the fashion industry.
August 12, 2014
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