MILAN Feb 27 Italy's Versace said on Thursday
it had signed an agreement with Blackstone that will see the
U.S. private equity firm take a 20 percent stake in the fashion
house in a deal valuing the group at one billion euros ($1.37
Blackstone will inject 150 million euros of fresh capital
into Versace and will also buy 60 million euros of shares from
family holding company GIVI Holding, the fashion house said.
The deal implies a total enterprise value for Versace of one
The Versace family will remain at the heart of the company,
the company said.
Versace said it expected to see an 18 percent rise in its
2013 revenues to nearly 480 million euros, while core earnings
should increase by over 50 percent to at least 69 million euros.