CORRECTED-Zadig & Voltaire sells stake to TA Associates

Thu Apr 19, 2012 5:59am EDT

(Corrects typographical errors in 4th paragraph of April 18 story)

PARIS, April 18 (Reuters) - French fashion brand Zadig & Voltaire said it had agreed to sell a 30 percent stake to private equity firm TA Associates.

The U.S. fund will take a seat on the company's board following the deal, Zadig & Voltaire said in a statement on Wednesday, without disclosing financial terms.

French daily Le Figaro, which first reported the stake sale on April 16, said the transaction valued the company at about 380 million euros ($500 million).

Compagnie Financiere Edmond de Rothschild advised Zadig & Voltaire on the deal and Rothschild & Cie. advised TA Associates, according to the statement.

($1 = 0.7621 euros) (Reporting by Laurence Frost)