As expected, Valentino Fashion Group SpA has been acquired by Mayhoola for Investments, which is controlled by the royal family of Qatar, for roughly $858 million.
As with most big business deals, there are several groups involved.
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Valentino is on the verge of being sold for $852 million to an unknown seller!
The Italian fashion house was purchased in 2007 by the Permira private equity group and then resold in 2011 to co-creative directors Maria Grazia Chiuri and Pier Paolo Piccioli.
The label lost moola in 2009, but it's numbers shot back up by 18% in 2011.
Chief executive officer of Valentino, Stefano Sassi said:
Tags: 852 million, maria grazia chiudi, permira private equality group, pier paolo piccioli, qatar, stefano sassi, valentino