<i>WSJ</i>: Blackstone close to buying €200M stake in Versace

|About: The Blackstone Group L.P. (BX)|By:, SA News Editor

Blackstone (BX) is close to agreeing to acquire a 20% holding in Gianni Versace for €200M in a deal that would value the Italian fashion house at €1.1B.

The transaction would mark the latest milestone in the turnaround of Versace, which faced bankruptcy in 2004.

The company is also considering an IPO.