Fondo Strategico Italiano (FSI), Italy’s state-owned private equity fund, is the highest bidder for a minority stake in the Versace fashion house tanging from 20% to 30%,
the
Financial Times
reported.
Qatar’s sovereign wealth fund may join FSI’s bid, the
FT
article said.
The
FT
report said the Versace family and their advisers “are planning to narrow down the list of interested parties to three, ahead of a final round of bidding before Christmas.”
Forbes
reported
that, based on a €250 million valuation for a 20% stake, the company would be valued at €1.25 billion, or $1.7 billion.
Founder Gianni Versace was murdered in 1997. His sister Donatella, owns 20% of the company. Donatella’s daughter Allegra, the largest shareholder, owns 50%. Donatella and Gianni’s brother Santo, the non-executive chairman, owns 30%. (Sources:
Financial Times,
Dec. 5, 2013;
Forbes,
Dec. 2, 2013.)
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