Bahrain-based alternative asset manager, Investcorp, is buying Danish luxury retailer Georg Jensen for $140 million, Investcorp's spokesman confirmed on Monday.
The Financial Times reported the deal earlier on Monday, quoting Hazem Ben-Gacem, Investcorp's European private equity head, who will co-chair Georg Jensen, as saying Investcorp planned to expand the Danish brand in Asia, especially China.
The deal, which is expected to close on Monday, will be cash-only and fully paid by Investcorp, said Firas El Amin, head of corporate communications.
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