MILAN Dec 23 Italian private equity firm
Clessidra said on Friday it had reached an agreement to sell an
85 percent stake in high-end jeweller Buccellati to Chinese
conglomerate Gangtai Group.
The Bucellati family, who in 1919 founded the jeweller
famous for its ornate, lace-like creations, will retain a 15
Sources familiar with the matter told Reuters in May that
Cartier owner Richemont was in talks to buy a
controlling stake in Buccellati from Clessidra.
Clessidra , which recently changed hands and is now owned
by Italy's Pesenti family following the death of its founder,
bought a 67 percent stake in Buccellati back in 2013.
It said Buccellati's revenues had risen 60 percent since
(Reporting by Valentina Za)