LVMH-Backed Fund Grabs $55M Stake In Aussie Retailer

Law360, New York (April 15, 2013, 5:10 PM EDT) -- A private equity fund backed by French luxury goods giant LVMH Moet Hennessy Louis Vuitton on Monday purchased just less than half of Australian bushwear maker R.M.Williams in a deal reportedly valued at AU$52 million ($55 million).

L Capital Asia, a Singapore-based fund, will take a 49.9 percent stake in R.M.Williams, an 81-year-old Australian firm that specializes in boots, leather goods and other Outback-inspired clothing styles. Ken Cowley, the chairman and owner of R.M.Williams, will retain a 50.1 percent stake in the company.

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