Grupo Cortefiel, one of the leading fashion retailers operating in the specialised chain store segment, announces that funds advised by CVC and PAI have reached an agreement to jointly acquire Grupo Cortefiel.
The renewed commitment of CVC and PAI is a clear endorsement of the strategic plan being implemented by Grupo Cortefiel Executive Team – led by its CEO Jaume Miquel – since September 2016.
The deal increases the Company's financial and operational strength and significantly reduces its financial indebtedness. This transaction represents the full exit of the Permira funds from the capital structure.
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