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Permira measures up Italian clothing firm

Private equity firm Permira has been granted access to the books of Gruppo Florence, a hub of Italian clothing manufacturers that supply top luxury brands, as it considers making an offer to acquire the business, according to a report by Reuters.

Unnamed Reuters sources have confirmed that Gruppo Florence is currently assessing strategic options in partnership with Bank of America and Citi having drawn interest from investment firms including Carlyle, as well as Permira.

Gruppo Florence is majority owned by VAM Investments, a fund controlled by former Bulgari Chief Executive Francesco Trapani.

If a deal with Permira doesn’t materialise, the fund will consider an IPO for Gruppo Florence, according to the sources.

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