ITALY: HdP Stays Silent On Fila Bid
Holding di Partecipazioni Industriali SpA (HdP) has confirmed that several interested buyers are eyeing its 72 per cent stake in loss-making sportswear maker Fila Holding SpA.
But a spokeswoman for the company has refused to comment on reports in Il Sole 24 Ore saying that investment funds Bain group and the Continental group have teamed up to offer between $100m and $125m for Fila. The offer is reportedly conditional upon reaching a debt restructuring agreement with Fila's creditor banks.
UK-based leveraged buyout fund Doughty Hanson & Co Ltd, which controls Umbro, is also thought to have put in a bid for the business of $75-85 million.
In the second quarter, Fila posted a net loss of EUR31.2 million from EUR19.3 million in the year-earlier period. Its debt stood at EUR520.7 million at June 30.
HdP is planning to sell off its unprofitable divisions such as Fila, fashion house Valentino and textile unit GFT Net to focus on its books and periodicals business..
Companies: Valentino Fashion Group
Apparel giant Gap has secured deals to take its Gap and Banana Republic brands to two key Southeast Asian markets as part of its previously announced strategy for international growth....
Luxury goods company Hugo Boss has no plan to acquire Italy-based majority shareholder Valentino Fashion, a spokesperson confirmed to just-style....
Italy-based Valentino Fashion Group, which expects 10-12% sales growth this year, said today (5 December) that buying out the Hugo Boss label's minority shareholders is not a priority....
Valentino Fashion Group is to combine fully owned subsidiaries Valentino SpA and Emmeffe Srl by the end of 2005 as part of a restructuring exercise....
Italy-based design house Valentino Fashion Group is expected to consider a merger deal with its German fashion unit Hugo Boss, according to Il Corriere della Sera. ...
Valentino Fashion Group SpA will consider making acquisitions in the future, managing director Michele Norsa said in an interview with the Il Giornale newspaper....
The Milan bourse has cleared textile and fashion group Marzotto SpA's separate listing of Valentino Fashion Group SpA, which will soon by demerged from the group....
Italian fashion company La Perla has named Giulio Salvi president of its New York subsidiary La Perla Fashions Inc....
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