Permira sells further 10 pct stake in Hugo Boss
FRANKFURT May 3 (Reuters) - Private equity firm Permira is selling a further 10 percent stake in Hugo Boss , the German fashion house said on Friday.
The placement comes a day after Hugo Boss reported a bigger than expected drop in first-quarter sales on weakness in Europe and China.
The placement is being carried out by an accelerated bookbuilding process that has already started, Hugo Boss said.
The indicative price range for the shares is 89.25-90.50 euros, a person familiar with the transaction said. That represents a 2.4-3.7 percent discount to Thursday's closing price of 92.75 euros.
The source said Morgan Stanley was acting as bookrunner.
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Canada PM vows crackdown after capital shocked by fatal attacks |
- Man arrested after jumping White House fence, causing lockdown
- Probe: Athletes took fake classes at University of North Carolina
- U.S.-led air strikes killed 521 fighters, 32 civilians in Syria: monitor