KKR to sell majority stake in SMCP to China’s Shandong Ruyi
Chinese textiles producer Shandong Ruyi Technology Group has agreed to acquire a controlling stake in SMCP Group, a French apparel retailer backed by KKR.
Financial details were not disclosed but the deal reportedly values the French group at EUR1.3 billion ($1.5 billion), including debt. SMCP's founders and management will re-invest alongside Shandong Ruyi,...
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