Mayhoola for Investments S.P.C. (“Mayhoola”), an investment vehicle backed by a major private investor group from Qatar, has agreed to acquire Valentino Fashion Group S.p.A. (“VFG”). The sale and purchase agreement between Mayhoola and Red & Black Lux S.à.r.l. (“Red & Black”), a company indirectly controlled by the Permira Funds in partnership with the Marzotto family, was signed on 11th July 2012.
Through the acquisition of VFG, Mayhoola will acquire Valentino S.p.A. (“Valentino”) and the M Missoni license business, while MCS Marlboro Classics is being carved-out from VFG and will remain under the ownership of Red & Black. Red & Black will continue to own also a majority stake in Hugo Boss, which is not part of this transaction.
The Permira Funds, in partnership with the Marzotto family, acquired control of VFG through Red & Black in 2007, as part of a wider transaction which included Hugo Boss.
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