Versace plans to choose buyer for 20% stake this month

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versaceItalian fashion house Versace reportedly expects to choose between three suitors for a 20 per cent stake around the end of this month.

A deal is not expected to be done before the end of February or early March, said Reuters, citing three sources familiar with the matter.

The short-list of suitors includes private equity firms Blackstone, CCMP Capital Advisors and Investcorp, according to earlier reports by Dow Jones.

All of the three firms have satisfied the requirement that the new partner take a back seat in the management of the company

Last month it was reported that Versace planned to choose the buyer for the stake before the end of January.

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