US investment firm Permira and International Capital Growth S.a.r.l. have reached an agreement under which Red & Black Lux S.a.r.l., which is owned by Permira, will acquire 21,951,000 shares of Italian luxury goods, apparel and footwear group Valentino Fashion Group S.p.A. The shares equate to a 29.6% stake in the company, making Permira the largest single shareholder. The Italian company also includes Hugo Boss among its business units.

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