Retail Industry
Industry: Email Alert RSS FeedInvestcorp to sell off its interest in Gucci.(Investcorp S.A. is selling its stock)
Footwear News, March, 1996 by Ryan, Thomas J.
Investcorp SA announced a secondary offering to divest of all its Gucci stock since the footwear firm has reported terrific 1995 results. Gucci's initial public offering in Oct, 1995, was highly successful, so Investcorp should get about $1.3 billion for the secondary offering. Gucci's net earnings for 1995 totaled about $81.4 million, up from only $17.3 million in 1994. Sales, margins and other data are analysed.
NEW YORK (FNS) -- Capitalizing on Gueci's report of rocketing 1995 results on last Tuesday, Investeorp S.A. filed a secondary offering to sell its remaining stake in the company.
At current prices, the secondary offering could raise about $1.3 billion for Investcorp.
Gucci, which completed a highly-successful initial public offering last...
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