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29-06-14

Bahrain's Investcorp disagrees on purchasing Cavalli for USD611m

(MENAFN) Gulf private equity firm Investcorp said that it plans to acquire the Italian fashion house Roberto Cavalli, according to Arab News. However, the two parties disagreed on price after long negotiations, as the 73-year-old designer wanted as much as USD611.53 million for the stake. Price expectations were based on a multiple of 18 times earnings before interest, tax, depreciation and amortization (EBITDA) of USD33.49 million. Both Cavalli and Investcorp declined to comment.