The Italian luxury goods house Versace was, eariier this year was in discussion with a sale to Qatar, contracted to privately sell a minority stake in 2013. This private placement would be done before the shares sales would be sold in the bourse within the next three to five years.
The sovereign wealth fund Qatar Holding earlier in the year was in a partnership with an Italian government backed investment fund, both of whom were interested in purchasing Versace. The brand was established back in 1978.
According to Versace CEO Gia Giacomo Ferraris, "We decided to open a minority stake sale. We're well in track for this."
In previous statements, Ferraris said the Milan headquartered CEO would be deciding between October and November. At that time, the company would decide on a minority stake sale either through private placement or by public offer. To this end, Versace had engaged the services of Goldman Sachs Group and Banca IMI to finde future growth options.
The fashion brand is currently owned by Donatella, Santo and Allegra Versace, with a total net worth of EUR1.4 billion.
Join the Conversation