Fashion house Valentino confirms in takeover talks

AFP – Mon, Jul 9, 2012

LONDON, July 9, 2012 (AFP) - Italian fashion house Valentino is in exclusive talks with a potential but unnamed buyer, the company said, with Qatar's royal family believed to be interested.

"Valentino has seen increasing interest from a number of potential buyers," said Stefano Sassi, chief executive of Valentino Fashion Group and the Valentino fashion house, in a statement obtained by AFP on Monday.

He added: "An exclusivity has been granted to one of the potential buyers, who expressed interest in the long term potential of the brand, and it is expected to expire in July."

British media had reported Sunday that Qatar's royal family was in advanced talks to buy the fashion label from its current owner, private equity firm Permira, for some £550-600 million (700-755 million euros, $850-930 million).