Permira looks to exit remaining stake in Hugo Boss for €3.7bn


bosssssPrivate equity firm Permira Advisers is reportedly in talks with advisers about fully exiting its investment in German fashion group Hugo Boss.

Permira, which acquired a controlling stake in the company in 2007, is looking to sell its remaining interest of around 50 per cent, said Bloomberg, citing people with knowledge of the matter.

The stake is valued at about €3.7bn, said the people.

Permira has part-exited its stake, which is owns via its Red & Black vehicle, through two share sales in the past 18 months.

The firm is looking to sell its remaining stake in a single deal because a series of sales to institutional investors could hurt the stock price, according to the sources.

Last October Permira received £110.9m from  from a recapitalisation of the company, or 47 per cent on its initial investment.

Meanwhile, another company backed by Permira, Spanish pizza delivery business Telepizza, is set to refinance existing loans with a new first lien loan and a new payment in kind loan.

This will enable the company to repay lenders in full and escape an expensive debt restructuring.

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