Pepe Jeans: manufacturers may be in race for its purchase
Pepe Jeans could be sold by February. According to Spanish economic newspaper Expansion, the sale of the group, which owns the brands Pepe and Hackett, is well underway.
This summer, private equity firms Torreal, Arta Capital and L Capital, which together own nearly 58.9% of the shares, have enlisted Morgan Stanley to find buyers.
Among the various offers that have been made, four appear to have been retained. As reported, investment firms are in the running, probably including PAI Partners. But the surprise has been that out of the final four, two are international manufacturers.
Considering the suitors involved, the transaction could reach 800 million euros. For its latest fiscal year, which ended in March, the group's turnover exceeded 500 million euros with a net profit of around 50 million euros.
1 euro = 0.792026 GBP
1 euro = 1.24554 USD
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