PINAULT ON SUEZ: A day after he laid out more than a billion euros, or $1.28 billion, for 5 percent of the BTP Vinci construction business, French entrepreneur Francois Pinault, who owns Gucci Group, on Friday said current market conditions precluded him from making a play for French utilities giant Suez. French stock market authorities had ordered Pinault to clarify his intentions on Suez by Feb. 2. In a statement issued through his Artemis family holding company, Pinault said he was exploring a possible bid for Suez and that he had “obtained the necessary financial engagements for such a project.” Nonetheless, he said rumors about his intentions had created an “environment that is not sufficiently serene” in which to launch a bid. Speculation over the last month that Pinault had his eye on Suez sent the company’s stock soaring. Vinci’s stock rose more than 6 percent in trading on the Paris Bourse Friday on speculation that Pinault, who made his fortune in lumber, may now concentrate his firepower on taking over that company.

COMING TO NEW YORK: Diesel’s 55DSL brand will open a boutique at 281 Lafayette Street in the SoHo neighborhood of Manhattan. The 1,600-square-foot store, slated to open in the spring, will be the brand’s first retail location in the U.S. Robert K. Futterman & Associates and Fandel Retail Group represented the retailer in the deal.

This story first appeared in the January 23, 2007 issue of WWD. Subscribe Today.

load comments
blog comments powered by Disqus