Billionaire attracts interest of LVMH
04 NOV 2018
Billionaire, the restaurant chain owned by Italian entrepreneur Flavio Briatore, has attracted the interest of French luxury goods group LVMH [EPA: MC], Italian-language daily Il Sole 24 Ore reported. The report cited market rumours claiming that LVMH is looking at taking either a minority or controlling stake.
Briatore had hired Mediobanca before the summer to find a buyer, the report said.
Briatore's restaurants include Sumosan Twiga in London, Billionaire in Dubai and Cipriani in Monte Carlo, the report noted.
As previously reported, Briatore's restaurant business is understood to have generated EBITDA of EUR 25m in 2017.