MILAN Jan 24 Italian fashion group Roberto
Cavalli said on Friday it had not signed any agreement on a
possible sale of the group.
A report in Italian weekly Il Mondo said a sale to private
equity group Permira was imminent for about 450 million euros
($600 million), or 13 times expected core earnings this year.
Roberto Cavalli said in an emailed statement that the report
was "inaccurate and groundless" and that "...no agreement, not
even preliminary, has been signed regarding a hypothetical sale
of the group".
Friday's board meeting had nothing on the agenda regarding a
sale, the company said.
Family-owned Roberto Cavalli, known for its exotic prints,
has been courted by private equity in the past and buyers are
still targeting the sector on the back of strong performance.
In 2012, Qatar's royal family bought fashion group Valentino
in a deal that valued the company at 31.5 times 2011 core
earnings. Fashion house Versace said in September it is looking
to sell a minority stake.
(Reporting by Stephen Jewkes; Editing by Louise Ireland)