Permira to offload $1.1bn worth of Hugo Boss shares


download (9)Private equity giant Permira has reportedly launched an accelerated sale of €850m euros ($1.1bn) of shares in fashion house Hugo Boss.

Permira is selling 7.9 million shares at between €101.50 and €107.05, representing 11.2 per cent of issued share capital, said a source cited by Reuters.

Citi and BoA Merrill Lynch are said to be running the deal. Permira will be subject to a 90-day lockup on the residual shares, said the source.

Permira bought a controlling stake in German-headquartered Hugo Boss for €5.3bn in 2007, and has a holding of 55.62 per cent.

The firm recently exited its stake in London-listed PE firm SVG Capital by selling 12 million shares representing a 5.7 per cent stake in the company.

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