Fashion
L Catterton Asia, the Singapore-based private equity firm, is set to sell its stake in Australian luxury footwear retailer RM Williams.
The investment company, controlled by LVMH Group and the Arnault family, has put the business up for sale for US$500 million.
If successful, the sale would mark the second major retail sector divestment by the fund in recent months, after it sold down its 58.86 percent stake in Chinese mall operator Sasseur Cayman Holding to just 1.36 percent.
The RM Williams sale will be managed by investment bank Goldman Sachs.
L Catterton currently owns 82 percent of the business, up from its initial 49 percent investment back in 2014.
The other shareholders are IFM Investors, which manages not-for-profit superannuation investment funds, and actor Hugh Jackman.
RM Williams has about 50 retail stores in Australia and London and exports to about 15 countries with a network of about 900 stockists. It was founded in 1932.
