The fashion label Liu Jo, informs Reuters, has started a dual track procedure to resolve the disagreements between the Marchi brothers on the future of the group. This is what three sources close to the dossier report. reported by Reuters.
Vannis Marchi, 67, aims to sell 36,8% of the capital. According to sources, his brother Marco, 52, who owns 50,8% of the capital, intends to keep the majority and continue to lead the company.
Liu Jo officially reiterates that the company is not currently reviewing the options and denies "any disagreement between the company's shareholders".
According to one of the sources, however, the dual track process has started, with the aim of probe the market's appetite for an IPO and evaluate potential buyers. There have already been several meetings with private equity operators, but the Marchi brothers have not yet found the right partner, according to a source. The process is still in the preliminary stage, given that there are still no formal appointments to banks and advisers.
Liu Jo, according to one source, it could be valued up to 500 million euros, or ten times the Ebitda.
Based in Carpi, Liu Jo employs 550 people and manages 240 stores, concentrated in Europe and Asia.
UPDATE 9/02/2015 15.00 PM
Liu Jo refutes any divergence between the partners of the company (Vannis and Marco Marchi).
