{"id":47854,"date":"2013-10-12T09:43:00","date_gmt":"2013-10-12T09:43:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/blackstone-kkr-among-many-firms-bidding-for-a-minority-stake-in-versace-reuters\/47852\/"},"modified":"2013-10-12T09:43:00","modified_gmt":"2013-10-12T09:43:00","slug":"blackstone-kkr-among-many-firms-bidding-for-a-minority-stake-in-versace-reuters","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/blackstone-kkr-among-many-firms-bidding-for-a-minority-stake-in-versace-reuters\/47854\/","title":{"rendered":"Blackstone, KKR among Many Firms Bidding for a Minority Stake in Versace: Reuters"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>According to Reuters, citing sources familiar with matter as saying, no less than seven potential bidders are vying to take a majority stake in the Italian fashion house, Versace. The Company intends to sell a stake of 15% to 20% in order to fund its international growth, the sources said.<\/p>\n<p><span id=\"more-47854\"><\/span><\/p>\n<p>Finial advisers for Versace, Banca IMI and Goldman Sachs (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GS\" target=\"_blank\" rel=\"noopener\">NYSE: GS<\/a>), have already asked the \u201csmall group of investors that they can proceed with the bidding process,\u201d reported Reuters citing a source close with the development.<\/p>\n<p>The potential minority stakeholders include Italy\u2019s state-owned fund FSI, private equity firm, KKR &amp; Co. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=KKR\" target=\"_blank\" rel=\"noopener\">NYSE: KKR<\/a>), Blackstone (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=BX\" target=\"_blank\" rel=\"noopener\">NYSE: BX<\/a>), Clessidra, Permira, Ardian and Bahrain\u2019s Investcorp.<\/p>\n<p>When contacted by Reuters, Blackstone, Clessidra, Ardian and FSI declined to comment while KKR, Permira and Investcorp did not respond immediately.<\/p>\n<p>Meanwhile, one source said that the Italian fashion house was yet to short list potential bidders and it was unlikely do so before the year-end probably because the company is accepting the expression of interest. One source said that Versace has informed potential bidders that the deadline for expression of interest is November 30, which was subject to a change.<\/p>\n<p>Earlier in September, Versace CEO, Gian Giacomo Ferraris said that the company was likely to finalize the list of potential bidders by mid-October.<\/p>\n<p>Versace is entirely controlled by Versace family. Donatella Versace, who is the sister of late founder Gianni Versace, holds 20% stake; brother Santo has 30% stake while niece Allegra controls 50% stake in the company.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/blackstone-kkr-among-many-firms-bidding-for-a-minority-stake-in-versace-reuters\/47854\" data-title=\"Blackstone, KKR among Many Firms Bidding for a Minority Stake in Versace: Reuters\"><\/div>\n<p><script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20131014013712js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> <\/p>\n<p><!-- AddThis Button BEGIN --><\/p>\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a><br \/>\n<a class=\"addthis_button_preferred_2\"><\/a><br \/>\n<a class=\"addthis_button_preferred_3\"><\/a><br \/>\n<a class=\"addthis_button_preferred_4\"><\/a><br \/>\n<a class=\"addthis_button_compact\"><\/a><br \/>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n<p><script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script><br \/>\n<!-- AddThis Button END --><\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/blackstone-kkr-among-many-firms-bidding-for-a-minority-stake-in-versace-reuters\/47854\"><br \/>\nBlackstone, KKR among Many Firms Bidding for a Minority Stake in Versace: Reuters<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wells-fargo-q3-profit-up-13-as-provisions-for-bad-loans-fall-sharply\/47851\"><br \/>\nWells Fargo Q3 Profit up 13% as Provisions for Bad Loans Fall Sharply<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-higher-for-a-second-straight-trading-session\/47846\"><br \/>\nStocks End Higher for a Second Straight Trading Session<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-post-3-4-weekly-loss-as-lawmakers-nears-debt-deal-silver-prices-tumble\/47842\"><br \/>\nGold Prices Post 3.4% Weekly Loss as Lawmakers Nears Debt-Deal; Silver Prices Tumble<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-bounce-back-after-a-shaky-start-2\/47840\"><br \/>\nStocks Bounce Back after a Shaky Start<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-mainly-flat-in-early-trade\/47837\"><br \/>\nStocks Mainly Flat in Early Trade<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-slips\/47835\"><br \/>\nForex Market Update: Dollar Index Slips<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20131014013712im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script--><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to Reuters, citing sources familiar with matter as saying, no less than seven potential bidders are vying to take [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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