Blackstone close to taking minority stake in Versace - sources

MILAN Thu Feb 27, 2014 4:27am EST

MILAN Feb 27 (Reuters) - U.S. investment fund Blackstone is close to taking a minority stake in Italian fashion house Versace, two sources close to the matter said on Thursday.

Versace, which has been wholly owned by the family of founder Gianni Versace since his murder in 1991, is selling the stake to fund opening new shops and developing its clothing and accessories ranges.

"The announcement is expected for today. Versace will make a statement," one of the sources said.

Versace and Blackstone declined to comment.

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