LVMH-Backed Fund Buys 8% Stake in Fabindia, Reuters Reports
L Capital, a private equity fund backed by LVMH Moet Hennessy Louis Vuitton SA (MC), bought an 8 percent stake in India’s Fabindia Overseas Pvt. from Wolfensohn Capital Partners, Reuters reported, citing two unidentified people with direct knowledge of the matter.
The value and the terms of the deal weren’t immediately available, according to the report. Wolfensohn Capital purchased the stake in the closely held ethnic-wear chain in 2007 for about $10 million, it said.
Ketaki Kiran Paranjpe, vice president at L Capital Mumbai Advisory Services Pvt., and Prableen Sabhaney, a spokeswoman for Fabindia, declined to comment.
To contact the reporter on this story: Malavika Sharma in New Delhi at msharma52@bloomberg.net.
To contact the editor responsible for this story: Stephanie Wong at swong139@bloomberg.net
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