Asian consortium in exclusive talks to buy Italy's Bruno Magli

KGI Financial Holding

30/10/2013 18:08

MILAN, Oct 30 (Reuters) - Italian luxury leather goods brand Bruno Magli said on Tuesday its hedge fund owner Fortelus has begun exclusive talks to sell the entire company to a consortium of Asian investors. Bruno Magli said London-based Fortelus is expected to close the deal with a group of investors including South Korean retailer E-Land and Hong Kong-based private equity firm CDIB Capital in November. The luxury shoe and handbag brand dates back to the early  1900s when two brothers and their sister set up a workshop in their basement with a share capital of 35 old Italian lira, according to the company. E-Land has been acquiring outlets, leisure holdings and fashion brands since 2009, and already owns upmarket Italian bag and wallet maker Mandarina Duck. CDIB Capital is owned by Taiwan-based investment and merchant banking group China Development Financial  2883.TW . (Reporting by Isla Binnie. Editing by Jane Merriman) ((isla.binnie@thomsonreuters.com)(+39 02 661 29435)(Reuters Messaging: isla.binnie.thomsonreuters.com@reuters.net)) Keywords: BRUNOMAGLI SALE/