Fashion giant Benetton will sell Hermes equity

Italian fashion giant Benetton (Benetton) founder of the family’s investment company EdizioneSrl is the hands of the fashionable financial assets realized.

Edizione has sold shares of 0.25% previously acquired Hermès and 0.35% of LBrands Group (Victoria’s secret parent company), people familiar with the matter said. “These are purely financial investment.” But the other to “low-key” on the grounds, refused to disclose the proceeds of these two investments.

According to Edizione’s balance sheet, the Group’s expenditures on new investment projects amounted to EUR 106 million by the end of December 2015, including EUR 72 million for the 0.25% stake in Hermès and EUR 34 million for the 0.13% stake in LBrands. Thus, the two investment completed in 2015.

No one media hype Benetton this several investment, think of 2014, LVMH Group Hermès shares have caused a great uproar, or even resort to court.

According to insiders, Edizione investment Hermes and LBrands because the hands hold up to 1.6 billion euros of working capital reserves. In 2015, the company and Switzerland’s DufryAG reached a deal to 1.3 billion euros to the latter to sell the airport duty-free shops held by WorldDutyFreeSpA50% stake.

Leave a Reply

Your email address will not be published. Required fields are marked *