Chinese Billionaire Said to Invest in Frette Buyout
- Anta Chairman Ding Shizhong co-leading the buying group
- Deal shows confidence in China’s expanding luxury market
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A Chinese consortium, co-led by billionaire Ding Shizhong, chairman of Anta Sports Products Ltd., has bought 163-year-old Italian luxury linen maker Frette for about €200 million ($214 million), according to a person familiar with the matter.
Ding participated in the deal via a personal investment vehicle, which is not related to the Hong Kong-listed Anta Sports, said the person. The consortium also includes Hong Kong businesswoman Adrienne Marie Ma, the former president of Joyce Boutique Group Ltd., the person said, who asked not to be identified discussing private information.