The French conglomerate Kering plans to buy a 30% share in the Italian fashion label Valentino from the Qatari investment vehicle Mayhoola for €1.7 billion.
"Kering and Mayhoola have reached a legally binding deal under which Kering will pay €1.7 billion to purchase 30% of Valentino. The deal also gives Kering the option to buy the entirety of Valentino's share capital by 2028," according to a statement from the firm.
The agreement is a component of a larger strategic alliance between Kering and Mayhoola that "could result in Mayhoola becoming a shareholder of Kering." Regarding Valentino's future, the fashion company will continue to grow in accordance with the plan of its chief executive, Jacopo Venturini, who will remain in the role that he assumed in May 2020 after leaving his position as vice president of Gucci.
source: bbc.com
"Kering and Mayhoola have reached a legally binding deal under which Kering will pay €1.7 billion to purchase 30% of Valentino. The deal also gives Kering the option to buy the entirety of Valentino's share capital by 2028," according to a statement from the firm.
The agreement is a component of a larger strategic alliance between Kering and Mayhoola that "could result in Mayhoola becoming a shareholder of Kering." Regarding Valentino's future, the fashion company will continue to grow in accordance with the plan of its chief executive, Jacopo Venturini, who will remain in the role that he assumed in May 2020 after leaving his position as vice president of Gucci.
source: bbc.com
