Mergermania keeps on going: L Catterton is ready to close on Etro

Mergermania keeps on going: L Catterton is ready to close on Etro

From the three-way race for Sergio Rossi to the closing on Etro. And the usual rumors surrounding the future of Ferragamo that were once again denied this week. All while waiting for more moves like the one from OTB, which (may be) looking to make an acquisition. Or that of Giorgio Armani, which wants to draw a path for the future of the brand. Italian fashion and luxury companies are being sought by investors.

L Catterton is ready to close on Etro

The change in ownership for Etro seems to be around the corner from going to the founding family to L Catterton, an investment fund backed by LVMH, which bought Birkenstock in February and sold Dondup in March. According to Il Sole 24 Ore, the due diligence of the US-based fund is in its final phase, and so the closing of the deal may be very near. The probability that the deal will close soon is high, and it would be very surprising if it wasn’t so. Etro has been supported by Rothschild, which is also behind Sergio Rossi in its operation. The latter currently has 3 interested parties: Swiss Bally, US-based Marquee Brands, and Piquadro. The wait will likely be short in this instance as well.

Does Mayhoola want Ferragamo?

Il Sole 24 Ore also reported a rumor according to which Mayhoola, Qatar-based fund, has allegedly taken up the Salvatore Ferragamo dossier. Mayhoola also owns Valentino, which is a brand that is also likely to change ownership at some point. Ferragamo though, could be considering the entry of a minority shareholder to add liquidity to its accounts. All these supposed actions though have been denied by “sources close to the family”, writes the financial newspaper.

Others aren’t standing by

More developments may come from OTB in the upcoming months. It’s owners, Renzo Rosso, has recently denied that he is ready to go into a competition to acquire a large brand, but confirmed that the group is always looking for any interesting opportunity the market may offer. “Never say never” is also the statement made by Remo Ruffini, beside than from Mr. Rosso, with regards to a potential alliance between OTB and Moncler. Then Giorgio Armani focused the spotlight on itself when he mentioned a potential ally in Italy. Could it be Exor?

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