By  on June 17, 2010

MILAN — The state-appointed administrators of IT Holding SpA launched the auction of the Gianfranco Ferré fashion house and of Italian manufacturing firm Ittierre SpA on Wednesday, as sale regulations indicating terms and conditions were published in several newspapers.

Binding offers for Ferré, which should include business plans to continue the company’s activities, must be submitted to administrators Stanislao Chimenti, Andrea Ciccoli and Roberto Spada no later than July 6. The commissioners also are putting up for sale a property that houses a Ferré store in Porto Cervo, the exclusive resort town on Sardinia. Sources said the following are looking at the Ferré dossier: Milan- and Vicenza-based private equity firm Palladio Finanziaria; New York-based merchant banking firm Prodos Capital Management and hedge fund firm Amber Capital Investment Management, also headquartered in New York.

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