Private equity firm KKR has reportedly entered into exclusive talks to buy a majority

share of French clothing brands Maje, Sandro and Claudie Pierlot, which are partially owned by LVMH chief executive Bernard Arnault.

In January, the three brands were put up for auction to replace the two shareholders funds SMCP, L Capital (LVMH) and Florac, which together hold 51 percent of shares, and the group attracted interest from numerous investors including KKR, Carlyle, Eurazeo and Swire Pacific.

According to Reuters, both US investment firms KKR and Carlyle were in contention last Thursday to win, however on Friday it was reported that KKR entered into ‘exclusive negotiations’ in the acquisition of the fashion brands. It is thought that the price offered by KKR corresponds with an ‘enterprise value of 650 million euros’.

It is hoped that the new investment into the three French fashion brands, which together operate close to 500 stores, mainly in Europe, would help to accelerate their international expansion, particularly in China, and the United States.

Typically in French takeovers 'exclusive negotiations' to acquire an asset indicates that the deal is done, however no comment has been made from KKR officials.

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