Valentino Haute Couture FW 2012
(Reuters) - Iconic Italian fashion house Valentino has been snapped up by the Qatari royal family for 700 million euros ($857.46 million), marking one of the most prominent purchases of a European top designer brand by an emerging market investor.
Valentino said Mayhoola for Investments S.P.C, which is backed by a leading Quatari investor, had acquired full ownership of Valentino Fashion Group SpA from London-based private equity fund Permira and Italian textile entrepreneurs Marzotto.
Valentino did not disclose financial details of the sale nor name the investor. But two sources close to the deal told Reuters the Qatari royal family had acquired Valentino in a deal that values it about 700 million euros.
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