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Blackstone among suitors for Versace stake

10 Oct 2013

versaceUS private equity firm Blackstone is reportedly interested in making a bid for a minority stake in Italian fashion house Versace.

Versace is still considering expressions of interest and has yet to draw a short-list of bidders for a stake of 15 to 20 per cent, said Reuters, citing sources.

The group is expected to pick two or three potential investors by the end of the year before starting talks, said other sources.

Other suitors include private equity firms Ardian and Permira and Italian state-backed fund Fondo Strategico Italiano, according to the people.

Last month Versace CEO Gian Giacomo Ferraris said the business could be floated in the next three to five years and that the company expected to draw a short list of potential investors by mid-October.

Last month it was reported that Bahrain-based private equity firm Investcorp had expressed interest in acquiring a stake in Versace, as did Clessidra.

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