Blackstone Wins Over Versace With $287M Investment

Law360, New York (February 27, 2014, 11:09 AM EST) -- New York investment giant Blackstone Group LP said Thursday it would throw €210 million ($287 million) behind Gianni Versace SpA, beating out several private equity firms to end the famed Italian fashion house's monthslong search for an outside partner.

Under the deal's terms, Blackstone will pour €150 million of fresh capital into the company and purchase a €60 million stake from GiVi Holding SpA, the Versace family's holding company. All told, the firm will have a 20 percent stake in the designer, valuing the Versace name...
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