| Italy's sovereign wealth fund is close to bowing out of the race to buy a stake in Versace as a trio of international private equity firms battle to invest in one of the world's best-known fashion houses.
Sky News understands that Fondo Strategico Italiano (FSI) is expected to miss out on the shortlist to acquire 20% of family-owned Versace in a deal likely to value the company at about £900m. Blackstone and CCMP Capital, two New York-based firms, and Investcorp of Bahrain were informed on Friday that they were being considered as Versace's new investment partner...............................................Full Article: Source
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