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STICKING WITH IT: Private equity firm Permira Advisers LLP said it has no plans to sell its majority stake in the German men’s wear giant Hugo Boss. A Permira spokeswoman said Friday the company has “no current plans” to sell its shares, refuting media reports last week that it was in talks to sell.
Permira holds a 51 percent stake in Hugo Boss, which is listed on the DAX in Frankfurt, and the reports earlier this month said that it was looking to find a single buyer for its stake worth an estimated $5.5 billion.
In the second quarter, Hugo Boss said net income gained 18 percent to 62.8 million euros, or $86.1 million, with earnings before interest and taxes rising 10 percent to 82.9 million euros, or $113.7 million.