Clessidra to buy Roberto Cavalli

Clessidra SGR said Thursday it has agreed to buy a majority stake in Roberto Cavalli, the fashion house. Financial terms weren’t announced. Varenne, a new company that is majority owned by Clessidra, is buying 90 percent of Cavalli. Founder Roberto Cavalli will own the remaining 10 percent. L-GAM and Chow Tai Fook Enterprises Ltd. will each have minority stakes in Varenne.

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