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Versace plans to pick buyer for 20% stake this month

13 Jan 2014

versaceFashion house Versace reportedly expects to pick the buyer for a 20 per cent stake in the group by late January.

The short-list of suitors includes private equity firms Blackstone, CCMP Capital Advisors and Investcorp, said Dow Jones, citing a person familiar with the matter.

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

Last month it was reported that CCMP Capital and Italian sovereign wealth fund Fondo Strategico emerged as favoured bidders for the stake.

Fondo Strategico keen to buy a stake in Versace at a value which would see the business worth €1.1bn, according to a Reuters report.

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