At least 7 potential bidders running for Versace stake

October 12
1:42 AM 2013

There were at least seven possible buyers interested in acquiring a minority holding in Versace, an Italian fashion house. Versace planned to sell around 15% to 20% stake to fund growth in the company. This was according to sources close to the deal who told Reuters last Friday.

Italian fashion house Versace had hired Banca IMI and Goldman Sachs as financial advisers for the deal. Banca IMI and Goldman Sachs told a small group of investors that they could proceed with the bidding process, according to one source.

The investors had been considering to acquire the stake not only in Versace but in other firms including FSI, an Italy state-controlled fund, Bahrain's Investcorp and private equity companies Permira, KKR & Co, Ardian, Clessidra and Blackstone, according to sources.

Representatives for Ardian, Clessidra, Blackstone and FSI refused to comment regarding the report. Investcorp, Permira and KKR were not immediately available to give statements.

According to one of the sources, the Italian fashion house had not yet made a shortlist of potential partners. However, Versace would be unlikely to do so before the holiday season in December, said a Reuters report.

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