(MENAFN) London-based private equity firm Permira officially sold the Italian fashion house Valentino Fashion Group to Qatari royal family, Reuters reported.
Mayhoola for Investments SPC, which is backed by a Qatari royal investor, bought the fashion house Valentino Fashion Group from Permira and Italian textile entrepreneurs Marzotto, Valentino said without disclosing the value of the purchase.
Valentino is the latest valuable asset bought by a Qatari investor. Qatar has been in an aggressive buyout drive in the last few years, concentrating on Europe's valuable assets.
Permira took control of Valentino Fashion Group, which at the time included Valentino and German menswear brand Hugo Boss in 2007for USD6.5 billion in one of the largest deals in Europe that year.