By Kane Wu, Silvia Aloisi and Pamela Barbaglia
By Kane Wu, Silvia Aloisi and Pamela Barbaglia
HONG KONG/MILAN/LONDON, March 6 (Reuters) – Chinese language clothes conglomerate Shandong Ruyi has did not safe financing for its $600 million acquisition of Swiss luxurious model Bally, greater than two years after the deal was introduced, in keeping with 4 individuals with direct information of the matter.
The group, whose financing woes have been exacerbated by the outbreak of the coronavirus in China, agreed to purchase a controlling stake in Bally from Luxembourg-based JAB Holding in February 2018, with out disclosing monetary particulars.
The individuals all declined to be named as the knowledge is confidential.
Ruyi and JAB declined to remark.
Responding to a Reuters request for remark, a Bally spokeswoman confirmed that the sale to Shandong Ruyi had not been accomplished thus far.
“Bally is lucky to proceed to have the help of our sole…