Kering gets 30% of Valentino with an option of full repayment and builds close partnership with Mayhoola

Thursday became day of big news. The owner of Gucci Kering group and the owner of Valentino Mayhoola fund declared that the French luxury giant acquired 30% of shares of Valentino for 1,7 billion euro (169 billion rubles *) cash. The binding agreement includes an option for acquisition by Kering group of 100% of the share capital of Valentino no later than 2028. Companies reported that the transaction is "part of broader strategic partnership" between them that can even lead to that Mayhoola becomes shareholder to Kering. The initial transaction concerning the minority equity stake, has to be...