Qataris buy Italian fashion house Valentino
LONDON, July 12 |
LONDON, July 12 (Reuters) - A Qatari group has agreed to buy the prestigious Italian fashion house Valentino from its private equity owner Permira, in a deal that underlines the kingdom's appetite for trophy assets.
The deal values Valentino at about 700 million euros ($857.46 million), people familiar with the situation said.
The acquisition is being made through Mayhoola for Investments SPC, an investment vehicle backed by a major private investor group from Qatar, the parties said on Thursday.
($1 = 0.8164 euros) (Reporting by Simon Meads)
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