Fashion
Kering reaches $860 mln Paris real estate deal with Ardian
By
Reuters
Published
January 15, 2025
Gucci owner Kering and French private equity firm Ardian struck a deal to transfer three Paris real estate assets to a newly created joint venture, the companies announced on Wednesday, saying net proceeds for Kering would amount to €837 million ($860.27 million).
The portfolio includes a building on place Vendome and two others on avenue Montaigne, all located in Paris’s main luxury shopping area. Kering will retain 40% of the ownership, it said.
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