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CCMP, Italian sovereign fund emerge as favoured bidders for Versace

16 Dec 2013

versaceCCMP Capital and an Italian sovereign wealth fund are reportedly leading a pack of private equity bidders to pick up a stake in renowned fashion house Versace.

Italy’s state-backed Fondo Strategico Italiano is said to be keen to buy a stake in Versace at a value which would see the business worth €1.1bn according to Reuters.

It cited people familiar with the situation, who said Versace was selling a stake of about 20 per cent ahead of a potential stock market listing in three to five years.

Fellow private equity firms Ardian and Investcorp are likely to join CCMP and FSI on a shortlist, with a view to completing the deal in the first quarter of 2014.

Blackstone, Clessidra and Permira have also been previously linked with bids for the business.

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