Permira Will Sell Valentino to Sovereign Fund, Telegraph Reports

Permira Advisers LLP will sell luxury designer Valentino to a sovereign wealth fund for 600 million euros ($737 million), the Sunday Telegraph reported, without saying where it obtained the information.

The sale, to one of Permira’s investors, will separate the Valentino brand from Hugo Boss AG, the newspaper said. The sovereign wealth fund hasn’t been identified it said.

Chris Davison, a London spokesman for Permira, declined to comment today when contacted by e-mail.

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