Bahrain private equity firm Investcorp has bought a significant minority stake in Turkish fresh cut and packaged processed red meat producer Namet for an undisclosed sum. Early this year, Investcorp acquired a 25% stake in Saudi Arabia's Leejam Sports Co.
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.
The following bids, mergers, acquisitions and disposals were reported on Friday including ITC Holdings, Dave & Buster, Time Warner Cable, Banca Etruria, Cube Capital, Cargolux, Simon Property and Versace.
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.
An article published by the New York Times said that the Versace deal may not please investors. Versace valued itself at over EUR1 billion (USD1.36 billion), which is 14 times its current-year EBITDA at EUR70 million.
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.
The following bids, mergers, acquisitions and disposals were reported on Friday including Statoil, Cassa Depositi e Prestiti, ThyssenKrupp, Mercator, Avivasa Emeklilik, Hayat Sigorta, Banca Monte dei Paschi di Siena, Telus Corp, Atrium Innovations and John Hardy
On Thursday, Versace company president and former chief executive officer Santo Versace said there is a possibility of the Italian house to have a buyer of its 20% ownership stake by Christmas. Versace also revealed potential plans for an IPO in the future.
According to sources that told Reuters, US private equity firm Blackstone would be among possible bidders for Versace's minority stake.
Italian fashion house Versace announced through its CEO Gian Giacomo Ferraris that the company had been expected a final shortlist of buyers interested in the company's minority stake by mid-October.
In an interview, Donatella Versace confirmed the near finalization of a deal with a minority stakeholder.
Versace CEO Gian Giacomo Ferraris announced that the company planned to sell a minority stake privately before launching an IPO.