Investcorp, AXA among Versace suitors

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versaceBahrain-based private equity firm Investcorp has reportedly expressed interest in buying Italian luxury brand Versace.

Other interested parties include Italy’s strategic fund FSI and private equity firms AXA, Permira and Clessidra, said Reuters, citing sources close to the situation. Versace is expected to shortlist four or five suitors for “more concrete discussions,” said the people.

Qatar has held talks with Versace, but is now looking less likely to bid, Reuters reported earlier this week.

Versace plans to sell a stake of between 15 and 20 per cent, according to the report.

Earlier this month Investcorp bought a 25 per cent stake in Saudi fitness club manager Leejam Sports Company via its Gulf Opportunity Fund.

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