Patek Philippe not for sale despite regular enquiries (translated)
Patek Philippe, the Swiss luxury watch manufacturer, is not for sale despite attracting regular enquiries, Finanz und Wirtschaft reported.
In a lengthy interview Patek supervisory board chairman Thierry Stern told the Swiss bi-weekly he could sell the company tomorrow for EUR 10bn if he wanted to, but has no intention of doing so as he loves his job and has the passion required to continue running the family owned company. Stern said he receives discrete enquires, usually at the Basel watch exhibition, often from super rich private investors. Large competitors gave up trying to acquire the company several years ago, Stern told the paper.
Source Finanz und Wirtschaft