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Italy/France: Gucci, Puma owner to make strategic buyout of luxury jeweler

 |  April 24, 2013

The France-based owner of major brands like Gucci and Puma has announced plans to acquire a majority stake in Pomellato, a luxury jewelry company based in Italy. In a move to strengthen its position in the jewelry market, PPR SA has announced plans to buy the stake from RA.MO SpA; a co-shareholder of RA.MO will reportedly remain CEO of Pomellato, based in Milan. Financial details of the deal, which remains subject to regulatory approval by competition authorities, were not disclosed. Pomellato’s enterprise value was reported at $351 million.

Full Content: Businessweek

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