By  on August 7, 2012

NEW YORK — G-III Apparel Group Ltd. is set to make a splash in the luxury swim market by acquiring Vilebrequin from Netherlands-based private equity fund Fashion Fund I BV.

The deal is for a total purchase price of 85.5 million euros, or about $106.2 million, of which 70.5 million euros ($87.6 million) is in cash and another 15 million euros ($18.6 million) is in unsecured promissory notes, due Dec. 31, 2017, at an interest rate of 5 percent a year.

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