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The Latest Investments | Coty, Porsche & Valentino

Aug. 6th, 2012 | Comments 0 | Make a Comment   
Volkswagen acquires the remaining 50.1% stake in Porsche, Coty hopes to raise $700 million in an initial public offering and India’s Sahara Group buys New York’s Plaza Hotel

Sold: Valentino, Mayhoola

Valentino Fashion Group SpA has been acquired by the Qatari royal family for €700 million, 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 Mayhoola for Investments S.P.C was said to have conducted the purchase on behalf of the Qatari royal family.

Bankrupt: De Tomaso

Italian sports car brand De Tomaso has filed for bankruptcy, despite the grand visions of its latest owner, former Fiat executive Gian Mario Rossignolo. The announcement comes after a long period of uncertainty and a failed attempt to secure a Chinese buyer for the struggling brand. A court-appointed administrator will overlook De Tomaso’s remaining assets.


Sold: Plaza Hotel, Sahara Group

India’s Sahara Group has purchased a controlling stake in New York’s landmark Plaza Hotel for $570 million. Israeli real estate company Elad Properties currently jointly owns the property alongside Saudi-based Kingdom Holdings Co. Elad will receive 1.6 billion shekels ($400 million) for its 60 percent stake, while Kingdom will receive the rest.

Speculation: KupiVIP, IPO

KupiVIP.ru, an online shopping club in Russia operated by Privat Trade Ltd, has announced its intention to study an initial public offering in New York within in the next two years, aimed to raise at least $120 million. Launched in October 2008, KupiVIP has attracted $86 million of funding to date from investors seeking exposure to one of the fastest-growing electronic commerce markets.


Speculation: PPR, Chinese Luxury Brand

PPR confirmed that it is in early negotiations to acquire a Chinese luxury company to bolster growth in its largest market for high-end goods. Though talks have only recently commences, the acquisition may be completed this year according to PPR CEO Francois-Henri Pinault.

Acquired: Qatar, Luxury Hotels

Qatar has purchased four luxury hotels from U.S. investment group Starwood, at a total cost of up to €750 million. Qatar, which owns the Royal Monceau hotel in Paris and the Carlton in Cannes, has purchased Le Martinez in Cannes, as well as the Concorde Lafayette, l’Hotel du Louvre in Paris, and Le Palais de la Mediterranee in Nice, to be operated by Hyatt hotels.


Finalized: Pegasus, Six Senses Resorts & Spas

US-based private equity fund manager, Pegasus Capital Advisors, has acquired the Bangkok-based ultra-luxury resort and spa management business of Six Senses Resorts & Spas for an undisclosed sum. Pegasus now holds all of the resort and spa management contracts and related intellectual property rights of the Six Senses and Evason branded properties. A new company managed by Pegasus and its affiliates will operate these newly acquired assets.

Finalized: Volkswagen, Porsche

Volkswagen has agreed a deal to buy the remaining 50.1% stake in Porsche it doesn’t already own by the start of August 2012. Volkswagen will pay €4.46 billion plus one VW common share to acquire the stake. “The accelerated integration will allow us to start implementing a joint strategy for Porsche’s automotive business more quickly and to realise key joint projects more rapidly,” reported Volkwagen’s chief financial officer Hans Dieter Poetsch.


Filed: Coty, IPO

After dropping a $10.7 billion takeover bid for Avon Products Inc earlier in the year, Coty Inc has filed to raise as much as $700 million in an initial public offering. Founded in Paris in 1904, Coty is majority owned by Joh A Benckiser, the investment vehicle for the billionaire Reimann family of Germany, whilst Warren Buffett’s Berkshire Hathaway and private equity firm Rhone each own a 7.5 percent stake.
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