AlixPartners UK LLP to sell 37% stake in French fashion group SMCP

PARIS, March 1 (Reuters) – Alastair Beveridge and Daniel Emison of Alix Partners UK LLP announced on Wednesday a 37% stake in SMCP ( SMCP.PA ), the French fashion company whose labels include Sandro and Maje.

“At this initial stage, the commencement of the sale process, the timing of the sale process, the summary of the sale of the shares tendered, the identity of any purchaser (or purchasers) and whether the shares tendered may be in whole or in part. Whether sold to one or more purchasers is not known at this time,” AlixPartners UK LLP said.

“Accordingly, it is not possible to assess whether or not the transaction will trigger a subsequent mandatory tender,” he added.

SMCP shareholders are dominated by a group of former bondholders including BlackRock and Carlyle. The fashion company’s former majority owner, a unit of China’s Shandong Ruyi ( 002193.SZ ), previously paid 250 million euros ($265 million) in debt.

($1 = 0.9434 EUR)

Reporting by Sudip Kar-Gupta; Editing by Kim Coghill

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