FRANKFURT May 3 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
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