NOT QUITE YET: While bids to buy a 20 percent stake in Versace are in, no decision is imminent, a market source told WWD. “There are no preferred investors at this stage; there are five or six offers on the table, but the Versace family has not evaluated them yet,” said the source.
As reported in September, the IQ Made in Italy joint venture — formed by global investment firm Qatar Holding LLC and Italy’s Fondo Strategico Italiano, the holding company controlled by Cassa Depositi e Prestiti, or CDP, a financial company controlled by the Italian Ministry of Economy and Finance — has been looking at the Versace dossier and is said to have presented a bid. However, refuting a Financial Times report on Monday, the source said it is “not a frontrunner yet.”
This story first appeared in the December 3, 2013 issue of WWD. Subscribe Today.
New York-based Blackstone Group is said to still be in the running, while private equity group Permira is no longer so, according to the source. Italian fund Clessidra, Paris-based Ardian and Bahrain-based Investcorp have also repeatedly been associated with the Versace sale.