Milan, Italy, June 20, 2019 – Dubai developer Damac is in pole position to buy trouble Italian fashion group Roberto Cavalli, a source close to the matter said on Wednesday, according to Reuters.
The other binding offers for the whole group have been submitted by Italy’s Diesel-owner and U.S. brand management company Bluestar Alliance, the source said.
Last Friday Cavalli said it had received five offers for the brand.
The company and its private equity owner Clessidra both declined to commedn.
Cavalli held a board meeting on Wednesday to examine the bids, though the final decision rests with the bankruptcy court witch granted creditor protection to the brand in April.
Damac is already a partner of Cavalli in a real estate project.