October 29, 2010

Nuance Group : Stefanel sells its shares to PAI Partners

Owner of a 50% stake in Nuance Group, the Italian group Stefanel has just sold its stake to investment fund PAI Partners. The transaction was made on the basis of 106 million Euros (between a range of 97 million and 120 million based on year-end data).

Shops at Roissy airport. Photo : Pixel Formula

Stefanel invested eight years ago in the leading airport shops. The other shareholder with the remaining 50% is the Italian distribution company, Gecos/Gruppo Pam. Nuance Group now has 370 units across 57 airports and 19 countries. Its consolidated sales revenue totaled 1.15 billion Euros in 2009. Its EBITDA (operating income) rose to 41.2 million. The Nuance Group has been also involved with ‘Aeroports de Paris’ since 2008 to develop trade in Orly and Roissy airports.

By Jean-Paul Leroy

archives Stefanel

8/28/09
Stefanel to sell 100% of German brand Hallhuber
...Stefanel GmbH has announced the complete sale of its holdings in Hallhuber to private equity firm Change Capital. The sale of 9 stores, 33 concessions and 93 points of sale of the German brand has brought in €25 million to...
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6/23/09
Italian clothier Stefanel names Santel CEO
...Stefanel SpA has named General Manager Director Luciano Santel to the new post of chief executive, the Italian clothing company said on Tuesday 23 June.
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6/22/09
Stefanel: course set for Spain
...director, Stefanel has signed an agreement with El Corte Ingles with a view to open fourteen concessions between now and 2010 in their Spanish department stores.
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5/25/09
Italy's Stefanel names new managing director
...retailer Stefanel SpA named Luciano Santel as its managing director on Monday 25 May, he will take over by September.
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4/15/09
Stefanel launches its first line of jewellery
...brand Stefanel has used its Spring-Summer collection 2009 to launch its first line of jewellery. This expansion has been entrusted to Vicky Sarge, co-founder of the brand Erickson Beamon which has previously...
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1/29/09
Tod's to show Italy's fashion sales surprised
...retailer Stefanel (STEP.MI) said sales rose last month and the winter discount season went better than last year. But given the economic turmoil, analysts said uncertainty remains. Economic growth is forecast to...
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1/26/09
Stefanel sales rise in December, positive in Jan
...retailer Stefanel (STEP.MI) saw sales rise in December compared with the previous year and winter sales are also doing better, its chairman and chief executive said on Monday.
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12/22/08
EU clears JV between France's ADP, Swiss Nuance
...owned by Stefanel (STEP.MI), gained permission from the European Commission on Monday to form a joint venture.
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archives Pai Partners

2/12/12
Imperial China stirs Jason Wu at New York fashion week
...said Yoni Pai, whose creative partnership with Steve Jong -- forged during their fashion school days in London a decade ago -- has only grown since they married two years ago.by Brigitte Dusseau and Robert MacPherson
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12/12/11
India retail reform unravels after backlash
...said D.H. Pai Panandiker, head of the RPG Foundation think-tank. Both ruling Congress party allies and opposition parties, fearing job losses for millions of small shopkeepers, had disrupted parliament for two...
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5/10/11
BC Partners buys Italy's Coin in $1.9 bln deal
...rival PAI in a deal valuing the company at close to 1.3 billion euros including debt.
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11/25/10
Maxeda sells Hunkemöller to PAI partners
...Hunkemöller to PAI Partners.
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10/5/10
Funds eye Italian retailer Coin; shares up
...Group PAI Partners is selling its 69 percent stake in Coin, which owns the Coin and Oviesse stores. In January, Coin bought smaller rival Upim, becoming the biggest clothing retailer in Italy. "It's a...
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9/22/10
Pai aims to exit Gruppo Coin by end 2010
...equity firm Pai Partners aims to auction its majority stake in Italian department store chain Gruppo Coin by the year-end, a source close to the issue said on Wednesday.
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10/26/09
Matalan considers bid approaches
...UL] and PAI Partners. ($1=.6119 Pound) (additional reporting by James Davey; Editing by David Cowell)
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7/29/09
Safilo to meet banks to discuss options
...after Pai Partners pulled out. "In today's meeting the company will explain to banks why Bain pulled out. They will also discuss its situation, to understand what path to take, possibly with an...
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7/27/09
Safilo talks fall through, board seeks new solution
...after Pai Partners pulled out, a source close to the matter said this month. Two sources with knowledge of the situation said Bain pulled out as it wanted, among the conditions to a deal, an early renewal of...
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7/24/09
Bain deal seen most likely for eyewear company Safilo
...after Pai Partners pulled out, Bain has yet to start exclusive talks. "For now, there are no exclusive talks between Safilo and Bain. Safilo even invited Berggruen to make an offer," a source close to...
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7/21/09
Berggruen asked for Safilo offer, no due diligence
...after Pai Partners pulled out of the race for a stake in the company. Safilo shares closed unchanged at 0.45 euros. (Reporting by Marie-Louise Gumuchian and Cristina Carlevaro; Editing by Rupert Winchester)
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7/17/09
Pai quits race for eyewear maker Safilo
...group Pai Partners has pulled out of the race for a stake in Italian eyewear maker Safilo, leaving only Bain Capital as a contender, a source close to the matter said.
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7/7/09
Safilo mulling fund, industrial partners
...Capital and Pai Partners -- were in the running to buy stakes in Safilo. "We are now waiting for exclusive talks to begin with one of the two funds. Around four weeks are still needed to clinch a deal,"...
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6/16/09
Cortefiel to close Milano menswear stores
...CVC and PAI Partners, Cortefiel has more than 1,500 shops and franchises in 56 countries. However, home country Spain still contributes about three quarters of turnover, which was 1.070 billion euros ($1.48...
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6/9/09
Safilo board to meet in days over bids
...Capital and Pai Partners have submitted bids for a stake in Safilo, the source said, confirming news reports. The board would meet by the middle of June, the source told Reuters on condition of anonymity. Shares...
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6/4/09
Offers for Safilo due today
...CVC and PAI were in the running to take a stake. A source close to the matter said last month two of the funds had dropped out, leaving only Bain Capital and Pai Partners. Another source close to the talks said...
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5/22/09
Safilo private equity talks may miss deadline
...Capital and Pai Partners in the running for a stake in Safilo, though a second source close to the talks said discussions between Only 3T and all four funds -- including Apax Partners and CVC Capital -- were continuing. Bain and...
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4/27/09
Safilo CEO says no deadline for talks with funds
...CVC and PAI were in the running to take a stake and the deadline to submit bids was Thursday. It said details of the operation would be finalised by May 22. CVC and Pai declined to comment, while Apax and Bain...
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3/20/09
Eyewear maker Safilo cuts jobs, cash needed
...Capital and PAI could invest in Safilo. CVC and PAI declined to comment. Bain did not immediately comment. "Even though we appreciate the restructuring plan, we still believe a capital injection (would) be...
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3/10/09
Safilo shareholder in talks with possible investors
...Capital and PAI. They were not immediately available for comment. Only 3T had said in January it was talking to potential partners on ways to strengthen and develop the company. Safilo said last month its 2008...
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