Kering SA, the owner of Gucci, entered exclusive talks to sell La Redoute to management, aiming to complete the disposal of the mail-order unit in the first half of 2014 as it focuses on luxury and sporting goods.
Charterhouse Capital Partners LLP, Britain’s oldest buyout firm, posted some of the industry’s biggest returns after spinning out of HSBC Holdings Plc. Handing off that legacy to the new generation is proving harder.
Kering SA, the owner of Gucci, said it expects net income to drop “very significantly” this year because of costs related to its planned sale of mail-order unit La Redoute and one-time charges for the Puma brand.
Nordic Capital, a Swedish buyout firm specializing in Scandinavian and German-speaking countries, is asking for as much as six more months to complete capital raising as it seeks to gather 3 billion ($3.9 billion) euros for its latest fund, according to a letter to clients.
Nordic Capital, a Swedish buyout firm specializing in Scandinavian and German-speaking countries, raised about 1.7 billion euros ($2.2 billion) in the first close of its latest fund, said two people briefed on the matter.
Nordic Capital’s Swedish advisory firm NC Advisory AB is confident it will win a court case against Sweden’s tax agency, which demands that private equity firm pays retroactive additional taxes of SK702m, Dagens Industri reports, citing NC Advisory. * Nordic Capital’s Swedish advisory firm has consulted more than 20 lawyers, which are all convinced it will win, its CFO Klas Tikkanen says, according to Dagens Industri * Court proceedings involving NC Advisory, tax agency start later this year; final ruling likely before Christmas: DI * NC Advisory has SK75m in own capital and wouldn’t be able to pay the tax authorities’ demand if it loses the case and payment of the additional taxes isn’t deferred; would need more capital to avoid bankruptcy if it loses case: Tikkanen * NOTE: Related article: Sweden’s Carried Interest Tax Crusade Jeopardizes Haven Status
Nordic Capital, a private-equity firm that invests in Northern Europe, is offering a 1.5 percent management fee for a buyout fund that seeks to raise 4 billion euros ($5.3 billion), according to a person briefed on the fundraising.
Nordic Capital, a Swedish private- equity firm, told investors it will seek 25 percent less than the 4 billion euros ($5.2 billion) it initially targeted for its latest buyout fund, two people with knowledge of the talks said.