Private equity firms Blackstone Group, CCMP Capital and Investcorp are the only remaining bidders for a minority stake in Italian fashion house Versace. Versace seeks to exit a 20% stake in the first quarter of next year.
Fondo Strategico Italiano
Breaking News
Italy's state backed Fondo Strategico Italiano (FSI) and private equity firm CCMP Capital are leading the race to secure a minority stake in Italian luxury goods group Versace.
Fondo Strategio Italiano, one of the bidders for a 20% stake in Versace, is willing to put in a bid valuing the Italian fashion house at EUR1.1 billion. Versace earlier said that it seeks a valuation of at least EUR1 billion.
Italian banks UniCredit, Intesa Sanpaolo SpA, Banca Monte dei Paschi di Siena SpA and BNP Paribas's BNL have agreed to sell a combined 59.3% stake in payment firm SIA.
State-backed sovereign fund Fondo Strategico Italiano is currently the leading bidder for a minority stake in Italian fashion company Versace. The possible deal is reportedly worth EUR850 million.
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