December 23, 2016 / 1:13 PM / 7 months ago

Gangtai valued Buccellati at 270 million euros in deal: source

1 Min Read

MILAN (Reuters) - The acquisition of Buccellati agreed by Gangtai Group values the Italian jeweler at 270 million euros ($282 million) in terms of enterprise value, a source close to the deal said on Friday.

Italian private equity firm Clessidra said on Friday it had reached an agreement to sell an 85 percent stake in high-end jeweler Buccellati to Chinese conglomerate Gangtai Group.

Reporting by Massimo Gaia; writing by Valentina Za, editing by Emilio Parodi

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