Pursuits
Apax Said Planning to Sell Tommy Hilfiger China Stake to PVH
- U.K. private equity firm to exercise option to sell stake
- PVH weighs IPO of Tommy Hilfiger China as soon as next year
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Apax Partners, one of Europe’s largest private equity firms, plans to sell its stake in Tommy Hilfiger’s China operations to joint-venture partner PVH Corp., people with knowledge of the matter said.
Apax, which owns about half of the China venture, is exercising an option to sell its holding to PVH and should complete the transaction by the end of the year, according to the people. The terms of the deal would give the China venture an equity value of about $500 million, the people said, asking not to be identified because the information is private.