No buyers for Lilliput

L Capital walks out of Lilliput Kidswear deal over valuation.
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Private equity fund L Capital Asia has withdrawn its bid to buy besieged Lilliput due to disparity over valuation and agreement particulars. L Capital, the private equity division of luxury group LVMH, wanted to settle for a considerably poorer valuation than what was agreed at the outset by opting to purchase only the retail assets of Lilliput, and not the company as a whole including its export and manufacturing divisions. L Capital is also said to have withdrawn a primarily discussed claw-back clause that would have allowed him to increase his stake once the business picked up steam.

 

 
 
 
 
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