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July 10, 2008
Cavalli: Conditions Aren't Right For A Sale
Roberto Cavalli has decided to cancel the sale of his fashion label because he doesn't believe that current market conditions would generate the right price.
The sale was advised by Merrill Lynch, which said he could expect over $2 billion for the asset. However, Cavalli said that the stock market crisis has caused bidders to lower their expected offers.
The sale is now put off indefinitely.
Posted by Blacks on July 10, 2008 09:03 AM
