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Mon 16 Dec 2013 11:30 AM

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Bahrain's Investcorp in race for key Versace stake

Italian fashion giant is offering a 20% stake ahead of its planned stock market listing

Bahrain's Investcorp in race for key Versace stake

Bahrain-based fund Investcorp is among the leading
candidates to buy a major stake in fashion house Versace, which the company
wants to offload ahead of its possible stock market listing, sources said.

Besides Investcorp, the others in the race are
Italian state-backed fund Fondo Strategico Italiano (FSI), private equity firm
CCMP Capital and French private equity firm Ardian.

FSI is keen to secure the Versace stake and would
put in an offer valuing the whole company at €1.1bn ($1.5bn),
sources have said.

The Italian luxury goods group is selling a stake
of around 20 percent ahead of a possible stock market listing in three to five
years.

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