86
Fashion Jobs
SHISEIDO
K-Key Account Lead
Permanent · HO CHI MINH CITY
ADIDAS
Senior Director Product Creation Ftw
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Corporate Affairs & Reputation Manager - Corporate Affairs & Engagement
Permanent · HO CHI MINH CITY
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
By
Reuters
Published
Dec 23, 2009
Download
Download the article
Print
Text size

Valentino Fashion Group agrees recapitalisation

By
Reuters
Published
Dec 23, 2009

MILAN, Dec 23 (Reuters) - Italy's Valentino Fashion Group (VFG), bought by private equity investor Permira [PERM.UL] two years ago, has agreed a recapitalisation deal, reducing debt by one third to 1.5 billion euros ($2.2 billion), it said on Wednesday 23 December.



In a statement, VFG said Permira and Italian investor the Marzotto family, who control VFG via the Red & Black company, had committed to putting up over 250 million euros in additional equity in the recapitalisation.

The deal includes "the reorganisation of the group structure below the controlling shareholder Red & Black, separating ownership of Hugo Boss from VFG", it said.

Germany's Hugo Boss (BOSG_p.DE) is one of three VFG brands, which also include Valentino and Marlboro Classics.

Creditor bank Citigroup is selling its debt position to Red & Black, while Italy's Mediobanca SpA (MDBI.MI) and UniCredit SpA (CRDI.MI) will continue as lenders, VFG said.

Terms on the remaining debt have been amended to increase VFG's financial flexibility to support its growth plans, it said.

Earlier this month sources close to the recapitalisation said Permira was in talks to buy some of the debt amassed to purchase VFG.

Hugo Boss shares closed up 0.7 percent at 24.410 euros, underperforming the DJ Stoxx personal goods sector index .SPQP which was up 1.2 percent. (Editing by David Holmes) ($1=.6986 Euro) (Milan newsroom, +39 02 6612 9507, fax +39 02 801149, [email protected]))

© Thomson Reuters 2024 All rights reserved.