Pursuits
Schustermann & Borenstein Said to Start 700 Million Euro Sale
- Private equity owner Ardian wants first-round bids this month
- Retailer said to expect 2016 Ebitda of 60 million euros
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Ardian SAS, the French buyout firm, kicked off a sale of designer fashion retailer Schustermann & Borenstein GmbH, which could fetch about 700 million euros ($780 million), people familiar with the matter said.
The company has distributed information to potential bidders and first-round offers are due mid September, the people said, asking not to be named because the talks are private. The business, which Ardian acquired in 2012, is attracting private equity firms and companies in the industry, they said.