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Gangtai valued Buccellati at 270 mln euros in deal - source
December 23, 2016 / 12:55 PM / in a year

Gangtai valued Buccellati at 270 mln euros in deal - source

MILAN, Dec 23 (Reuters) - The acquisition of Buccellati agreed by Gangtai Group values the Italian jeweller at 270 million euros ($282 million) in terms of enterprise value, a source close to the deal said on Friday.

Italian private equity firm Clessidra said on Friday it had reached an agreement to sell an 85 percent stake in high-end jeweller Buccellati to Chinese conglomerate Gangtai Group.

$1 = 0.9566 euros Reporting by Massimo Gaia; writing by Valentina Za, editing by Emilio Parodi

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