PARIS Oct 21 French luxury group Kering
is ready to inject at least 300 million euros ($411
million) into its La Redoute unit as part of efforts to find a
buyer for the loss-making mail order business, two sources close
to the matter said.
Three potential purchasers have requested further
information about La Redoute, though Kering has not yet received
any firm offer, the sources told Reuters on condition of
"Kering is ready to re-capitalise the company for an amount
of at least 300 million," one of the sources said, adding that
Kering also hoped any buyer would "also put some money on the
table" to finance a restructuring of La Redoute.
HIG Capital is among the potential buyers, according to
banking sources. Challenges magazine reported that OpCapita and
real estate group Altarea Cogedim were interested.
Kering declined to comment, while no one was immediately
available at HIG Capital.
La Redoute is the last of Kering's retail businesses, which
it has been shedding to focus on luxury goods and sportswear.
Its exit from the retail industry began with the disposal of
department store Printemps in 2006.
($1 = 0.7302 euros)
(Reporting by Pascale Denis; Editing by Astrid Wendlandt)