Pursuits
Shandong Ruyi Said to Be Leading Bidder for KKR-Backed SMCP
- Fashion group said valued at more than 1 billion euros
- Decision on sale or IPO of business to come by end of month
This article is for subscribers only.
Shandong Ruyi Group, the Chinese textile producer, has emerged as the preferred bidder for KKR & Co.’s French fashion company SMCP, people with knowledge of the matter said.
A sale could value the business at more than 1 billion euros ($1.1 billion), said the people, who asked not to be identified because the information is private. SMCP’s owners are likely to make a final decision this month, and if it fails to reach a sales agreement, the firm will probably pursue an IPO, the people said. No final decision has been made, they said.