Armani May Split Stake For Sale to Follow Will, Repubblica Says

The Armani Group may split the 15% stake that is up for sale equally among its preferred buyers, as the company moves closer to implementing the wishes of founder Giorgio Armani, La Repubblica reported on Sunday.

L’Oreal SA, EssilorLuxottica SA and luxury group LVMH Moët Hennessy Louis Vuitton SE, which were mentioned as preferred buyers in Armani’s will, may each get a 5% stake in the Italian company when the process formally starts, the paper said, without citing its sources. The report said the sale hasn’t kicked off yet.