Freshfields Helps Permira Sell $408M In Hugo Boss Shares

Law360, New York (November 14, 2011, 1:33 PM EST) -- Permira Advisers sold €300 million ($408 million) worth of nonvoting shares in German fashion company Hugo Boss AG in a deal managed by Citigroup Inc., the private equity firm and the bank announced Monday.

A holding company owned by Permira sold 4.5 million preference shares, which do not carry voting rights, at $92.87 per share, Citigroup said in a statement. Permira emphasized that the intention of the sale, which represents about 6.4 percent of Hugo Boss' share capital, was not to get out of the business.

“This disposal is not the start of...
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