Qatar said to eye stake in Italy's Versace

Qatar Holding and an Italian state-controlled investment fund are interested in investing in Italian fashion house Versace, Il Sole 24 Ore said on Saturday.

The Qatar sovereign fund is "carefully looking at" Versace, the Italian daily said, citing financial sources.

The paper cited market rumours as saying the fund was flanked by FSI, the Italian strategic investment fund owned by state financing company Cassa Depositi e Prestiti.

In November, Qatar Holding signed a joint venture agreement with FSI to invest in Italian companies in sectors including food, fashion and luxury.

Il Sole said that there were some 10 other expressions of interest for Versace besides that of Qatar and FSI.

But the paper added things were at an early stage and that the Versace owners had not decided yet whether to sell a minority stake.

FSI said it did not comment market rumours. Versace was not immediately available for a comment.

In April, Versace chief executive Gian Giacomo Ferraris told Reuters the house may consider opening the company to outside investors to help fund expansion in overseas markets such as Asia.

Earlier this month Qatar Holding agreed to buy a 40 percent stake in Milan's real estate development project Porta Nuova for an undisclosed sum.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Saudis cut wage, benefit bill in delicate pursuit of austerity

Saudis cut wage, benefit bill in delicate pursuit of austerity

Some Saudis appear prepared to accept austerity following the...

Who audits the auditors?

Who audits the auditors?

DIFC Courts is hearing a case against the Middle East branch...

Saudis tighten their belts for Eid in age of austerity

Saudis tighten their belts for Eid in age of austerity

Gov't cuts, which began late in 2015, are now rippling through...

Most Discussed
sponsoredTracking