Jacob Cohen stake sales confirmed
Jacob Cohen, an Italian fashion house, has confirmed it is looking to sell a stake to a financial buyer, Italian-language daily Il Sole 24 Ore reported.
The report cited a spokesperson for Delstar Associates, the Luxembourg-based vehicle that owns Jacob Cohen.
The statement by Delstar also confirmed that N+1 had been hired to find a buyer. The report cited the spokesperson as saying that there had been strong interest from potential buyers.
The report also quoted the spokesperson as denying that Jacob Cohen would be sold to clothing group Giada, which produces and distributes Jacob Cohen's clothing. The spokesperson added that Delstar would soon be renamed Jacob Cohen SpA.
N+1 had been hired to find a buyer, most likely a private equity fund, the Italian-language daily cited unspecified rumours as claiming.
Jacob Cohen has a turnover of EUR 70m, compared to EUR 46m in 2014, the report noted.
Il Sole 24 Ore