RAPAPORT… Chinese conglomerate Gangtai Group agreed to acquire an
85 percent stake in high-end jeweler Buccellati from Italian equity firm
Clessidra, Reuters reported.
The deal valued the Milan-based jeweler at $282 million
(EUR 270 million), or 6.6 times its revenues, Reuters cited a source as saying.
The Buccellati family, who founded the company in 1919, will retain 15 percent,