MILAN, May 10 - The family-controlled group behind Giorgio Armani is evaluating a plan to sell a 15% ownership position in the company in three equal tranches, according to a report published on Sunday. The move follows the death of Giorgio Armani, who died at 91 last September, and would adhere to buyer preferences he set out in his will.
Under the arrangement under consideration, the company would split the 15% stake into three parts and offer each portion to one of the parties Armani is reported to have identified as preferred buyers: French luxury conglomerate LVMH and two of Armani's commercial partners, beauty-products maker L'Oreal and eyewear and optics group EssilorLuxottica.
According to the report, Giuseppe Marsocci, the group's chief executive officer, is preparing a formal business plan covering the next five years as part of the preparations. Marsocci is also expected to appoint two external advisers to oversee the sale process. Those advisers would be given the task of sharing Marsocci's five-year plan with potential investors as the process moves toward a formal launch.
The report said the company was weighing the option of dividing the 15% holding into three equal parts ahead of the official start of the sale. That structure would be consistent with Armani's wishes, which reportedly stipulated that a sale should take place within 12 to 18 months of his passing. The split is intended to keep all three designated buyers engaged during the opening phase of discussions.
The group had not immediately provided a response to a request for comment, the report noted.
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