Investcorp sells remaining investment in Gucci Group.(Brief Article)

Daily News Record, April, 1996

NEW YORK - Investcorp SA has completed the sell-off of its investment in Gucci Group NV as underwriters on Tuesday exercised the full over-allotment option of 3.93 million shares.

At the set price of 48 a share, Investcorp realized $188.6 million before underwriting costs from the sales. The over-allotment was part of a secondary offering completed on March 27 through which Investcorp had already sold 26.4 million shares to realize $1.27 billion before costs.

Gucci went public in October 1995 at $22 million, with Investcorp realizing $228 million from the sale of 11 million shares. Investcorp acquired its initial 50 percent stake from Gucci family members in 1987 and grabbed 100 percent ownership in 1993 with the acquisition of the remaining 50 percent...

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