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FINANCIAL NEWS
Qatar Fund to buy French fashion brand at USD522mn cost
22 Jun 2016
(MENAFN) Qatar’s Mayhoola investment fund is ready to acquire the French luxury fashion ‘Balmain’ for more than USD522mn.
Furthermore, the deal marks the end of months of negotiations between the Qataris and Balmain investors, who include Sanofi co-founder Jean-Francois.
On the other hand, Balmain produced almost USD146.97mn euros in sales in 2015, and enjoyed sales growth of some 25 percent.
In addition, the figure of USD520.05mn would value Balmain almost 14 times earnings before interest, tax, depreciation and amortization.
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