PARIS (Reuters) - Gucci owner Kering and French private equity firm Ardian struck a deal to transfer three Paris real estate assets to a newly created joint venture, the companies announced on
Kering and Ardian Strike $860M Paris Real Estate Deal
PARIS (Reuters) - Gucci owner Kering and French private equity firm Ardian struck a deal to transfer three Paris real estate assets to a newly created joint venture, the companies announced on Wednesday, saying net proceeds for Kering would amount to 837 million euros ($860.27 million).
The portfolio includes a building on place Vendome and two others on avenue Montaigne, all located in Paris's main luxury shopping area. Kering will retain 40% of the ownership, it said.
($1 = 0.9730 euros)
(Reporting by Tassilo Hummel, Editing by GV De Clercq)
