LVMH-backed fund to buy 60{478333fef289f17d569c76970834c08f92d608302faf6c452490324ee355f13f} of Italian fashion label Etro -sources By Reuters

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© Reuters. Models present creations from the Etro Spring/Summer 2022 men’s collection during Fashion Week in Milan, Italy, June 20, 2021. REUTERS/Alessandro Garofalo/Files

MILAN (Reuters) – L Catterton, a private equity firm backed by French luxury giant LVMH (PA:), has agreed to buy a 60{478333fef289f17d569c76970834c08f92d608302faf6c452490324ee355f13f} stake in Italian fashion company Etro, two sources familiar with the matter said on Sunday.

The deal values Etro at about 500 million euros ($590 million), the sources said, confirming reports in Italian newspapers La Repubblica and Il Sole 24 Ore.

Etro said in a statement that L Catterton was taking a majority stake

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