Piece of Fabindia for LVMH

Louis Vuitton buys 8 pc stake in Fabindia.

L Capital, the private equity arm of Louis Vuitton Moët Hennessy (LVMH) bought eight per cent stake in Fabindia. The move saw the exit of Wolfensohn Capital Partners from the company. The deal is said to be valued at Rs 150 crore, according to AZB & Partners. A fund was opened last year by LVMH with the idea to invest more than £400m in innovative brands on the continent. AZB & Partners initiated the deal for LVMH and offered advisory services in structuring the transaction and carried out due diligence, drafting, negotiation and finalisation of the transaction documents. A first for AZB & partners, they believed it was a very interesting deal vis-à-vis challenging as well.