Trussardi sale to QuattroR virtually closed - report (translated)
23 DEC 2018
The sale of Trussardi, the privately held Italian fashion house, to QuattroR, a turnaround fund controlled by state-owned Italian financial holding Cassa Depositi e Prestiti (CdP), has been effectively agreed, Italian-language daily MF Fashion and most of the rest of the Italian press reported.
The unsourced report said that the deal had been virtually closed after doubts over the agreement among Trussardi's creditor banks, BNL, Unicredit, UBI Banca,Intesa Sanpaolo and Banco BPM, were overcome.
The item noted that the creditor banks provided Trussardi with EUR 51.5m in financing in March 2018.
The report claimed that QuattroR is to receive an 80% stake in Trussardi via a capital increase of EUR 50m.