Prada is evaluating a potential acquisition of Versace from Capri Holdings, with Citi acting as its adviser.
Capri Holdings has engaged Barclays to identify potential buyers for Versace, attracting interest from private equity funds and other fashion groups. This development follows Tapestry’s decision in November to abandon its $8.5bn acquisition deal for Capri, the parent company of Michael Kors.
In addition to this, Capri has enlisted Barclays to also explore other strategic options, including the potential sale of its Jimmy Choo brand aside from Versace.
Read more: https://pe-insights.com/prada-explores-acquisition-of-versace-from-capri-holdings/
KKR pushes Fuji Soft to file lawsuits against Bain Capital, alleging violations of a non-disclosure agreement.
According to a letter sent to Fuji Soft’s board on Monday, the US private equity firm is urging Fuji Soft to seek an injunction in order to stop Bain Capital’s alleged violation of an NDA. This comes in light of a public battle between the two PE giants over the acquisition of the $4bn Japanese software company.
Bain Capital confirmed that it destroyed the confidential information obtained during the due diligence process. However, it will continue with the (now hostile) bid for Fuji Soft.
Read more: https://pe-insights.com/kkr-in-battle-with-bain-capital-over-4bn-takeover-of-fuji-soft/
A Blackstone-led investor group is acquiring a majority stake in US accounting firm Citrin Cooperman, valuing the company at over $2bn.
The private equity giant, managing $1 trillion in assets, is purchasing the stake from New Mountain Capital, Citrin Cooperman’s previous majority owner. The deal reportedly values the firm at approximately 15 times its EBITDA, up from the 11 times multiple when New Mountain initially acquired it.
The investor group, which includes smaller stakeholders, will hold over two-thirds of Citrin Cooperman. Moreover, it will keep Blackstone’s stake below 50% to address regulatory concerns over the firm’s audit independence.
Read more: https://pe-insights.com/blackstone-leads-2bn-deal-for-pe-owned-accounting-firm/
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