Versace sells 20% stake to U.S. equity firm at 150 mln euro
Deal values Italian fashion label at one billion euros27 February, 12:14
The deal will also see Blackstone buy 60 million shares in the holding company GIVI Holding, which is controlled by the Versace family.
That includes Donatella Versace, whose brother Gianni founded the firm, their brother Santo and niece Allegra.
Blackstone will have a seat on the board of directors. Fashion icon Gianni Versace was murdered outside his Miami villa in 1997.