Kering to Get $690 Million From NY Property Stake Sale to Ardian
Summarize this article with:
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Gucci owner Kering SA will get $690 million following its sale of a stake in a New York property to French investment fund Ardian as part of the fashion group’s efforts to shrink its debt.Kering and Ardian formed a joint venture for the 715-717 Fifth Avenue property in Manhattan, which includes retail space totaling around 115,000 square feet (10,700 square meters), the companies said in a statementBloomberg Terminal Tuesday.