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.