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Versace-Blackstone deal confirmed

  • Versace has confirmed reports that Blackstone (BX) has agreed to acquire a 20% stake in the Italian fashion house in a deal that will value the company at €1B.
  • Blackstone will inject €150M of new capital into Versace and purchase €60M in stock from the family holding company, GIVI Holding.
  • Versace expects FY sales to climb 18% to nearly €480M and core earnings to increase by over 50% to at least €69M.
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