STICKING WITH IT: Private equity firm Permira Advisers LLP said it has no plans to sell its majority stake in the German men’s wear giant Hugo Boss. A Permira spokeswoman said Friday the company has “no current plans” to sell its shares, refuting media reports last week that it was in talks to sell.
Permira holds a 51 percent stake in Hugo Boss, which is listed on the DAX in Frankfurt, and the reports earlier this month said that it was looking to find a single buyer for its stake worth an estimated $5.5 billion.
This story first appeared in the August 11, 2014 issue of WWD. Subscribe Today.
In the second quarter, Hugo Boss said net income gained 18 percent to 62.8 million euros, or $86.1 million, with earnings before interest and taxes rising 10 percent to 82.9 million euros, or $113.7 million.