Cassia Investments backs buyout of Shanghai Tang
Hong Kong-based private equity firm Cassia Investments has supported an acquisition by Italian entrepreneur Alessandro Bastagli of fashion retailer Shanghai Tang from Swiss luxury goods company Richemont.
Financial details were not disclosed. Richemont took a controlling stake in the company in 1998 and acquired 100% ownership in 2008. According to an announcement, the investment will result in a global...
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