INVESTCORP BUYS HALF OF GUCCI

INVESTCORP BUYS HALF OF GUCCI

Morgan Stanley International confirmed Tuesday that Bahrain-based Investcorp has bought a near-50 percent share of Guccio Gucci SpA, the famous luxury goods and fashion accessory company in Milan, Italy, and Gucci America Inc. in Secaucus, N.J.

The shares were acquired in several transactions from members of the Gucci family over eight months, said Andrea Morante of Morgan Stanley.The remaining 50 percent of Gucci is owned by Maurizio Gucci, a grandson of company founder Guccio Gucci.