U.S. News

Permira to Buy 24% Stake in Valentino: Report


The investment fund Permira is today expected to reach a deal to buy an additional 24% stake in Valentino Fashion Group SpA, at 35 euros ($47.08) per share, from the Marzotto family, the daily La Repubblica said.

Following the acquisition, Permira will own 53.6% of Valentino and will launch a bid, also at 35 eur per share, to buy out minority shareholders, the report said.

The fund will also launch a bid on Valentino's unit Hugo Boss, the newspaper added.

Permira is expected to maintain Stefano Sassi as CEO of Valentino and Bruno Saelzer as CEO of Hugo Boss, it said.