PARIS, March 30 (Reuters) – Private equity firm KKR has entered into exclusive talks to buy a majority of French fashion brands Maje, Sandro and Claudie Pierlot, according to a source familiar with the transaction.
The acquisition of the brands, partially owned by LVMH Chief Executive Bernard Arnault, would give them an enterprise value of 650 million euros, the source said.
Typically in French takeovers ‘exclusive negotiations’ to acquire an asset signal that a deal is done, but formal closure is subject to review by the target’s works council.
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