Investcorp ends talks on Cavalli stake
29/06/2014 3:11 am EDT

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Bahrain-based investment firm, Investcorp has decided to end talks to acquire a majority stake in Italian fashion house Roberto Cavalli, as it was unwilling to pay the €450m ($612m) price tag, Reuters has reported. The 73-year-old designer was hoping to receive an offer from Investcorp by a June 30 deadline, but the Bahrain-based private equity company walked away from the negotiation table, said two sources close to the deal. “The company lacks appeal and there is a discrepancy between the asking price and the cost of turning around the business,” said one of the sources, speaking on condition of anonymity.

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