PPR : exclusive negotiations with Alpha Private Equity Fund 6 for Redcats to sell Cyrillus and Vertbaudet
* Reuters is not responsible for the content in this press release.
For best results when printing this announcement, please click on the link below: http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130103:nHUGcRTY PPR has entered into an exclusive negotiation with Alpha Private Equity Fund 6 ('APEF 6') for the sale of 100% of Redcats' shares in the Cyrillus and Vertbaudet brands, which constitute Redcats' Children and Family division, for an enterprise value of EUR119 million. APEF 6 is a private equity fund specialized in the acquisition and development of medium-sized companies, including spin-offs from large corporations, with the support of their management teams. This transaction would place Cyrillus and Vertbaudet in an excellent position to take advantage of their full potential and to continue their development. The sale by Redcats of its Children and Family division constitutes a further step forward in the transformation of PPR into a global leader in apparel and accessories, within the luxury and sport & lifestyle segments. The transaction, which is still subject to informing and consulting with employee representative bodies and to approval of the competition authorities, should be finalised in the coming months. About Alpha Private Equity Fund 6 ('APEF 6') APEF 6 specialises in leveraged buy-out and capital development, targeting medium-sized companies (enterprise value between EUR50-500m) in France, Italy, Benelux and Switzerland. APEF 6 backs managers of growing companies that enjoy a strong and strategic position in their markets. They are generally family-owned companies or spin-offs from large corporations. About PPR The PPR Group empowers a coherent ensemble of luxury and sport & lifestyle premium brands, specialising in apparel and accessories, to reach their full growth potential. Distributed in more than 120 countries, PPR generated revenues of EUR12.2 billion in 2011 and had over 47,000 employees at year end. The PPR share is listed on Euronext Paris (FR 0000121485, PRTP.PA, PPFP). Find out more on Gucci, Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Stella McCartney, Sergio Rossi, Boucheron, Girard-Perregaux, JeanRichard, Puma, Volcom, Cobra, Electric, Tretorn and Fnac at www.ppr.com APEF 6 contacts Press : Patricia Desquesnes +352 27 47 07 28 email@example.com PPR contacts Press : Paul Michon +33 (0)1 45 64 63 48 firstname.lastname@example.org Hélène Saint-Raymond +33 (0)1 45 64 61 20 email@example.com mailto:firstname.lastname@example.org Analysts/Investors: Alexandre de Brettes +33 (0)1 45 64 61 49 email@example.com Edouard Crowley +33 (0)1 45 64 63 28 firstname.lastname@example.org Website: www.ppr.com ENPPRdisposalRCVB http://hugin.info/143546/R/1668106/541593.pdf ---------------------------------------------------------------------------------------------------- This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: PPR via Thomson Reuters ONE HUG#1668106
- Pope attacks mega-salaries and wealth gap in peace message
- Atheists face death in 13 countries, global discrimination: study
- Probation for drunk Texas teen driver who killed four sparks backlash
- South Africa admits mistake over 'schizophrenic' Mandela signer |
- Air strike kills 15 civilians in Yemen by mistake: officials