By and  on August 21, 2009

MILAN — Italian clothing manufacturer and retailer Stefanel SpA has agreed to sell Munich-based women’s wear retailer Hallhuber GmbH to private equity firm Change Capital Partners LLP as it looks to reorganize its business.

The 25 million euro, or $35.4 million, sale to Blitz 09-450 GmbH, a German company controlled by Change Capital, is expected to be completed Sept. 10, subject to approval by German tax authorities, a spokesman for Stefanel confirmed Thursday. The figure could rise by another 4 million euros, or $5.7 million, following a conditional earn-out.

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