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The Italian Ministry of Industry gave the green light for the acquisition of OVS Stefanel | Instant News


VENICE (Reuters) – Italy’s Ministry of Industry on Thursday gave the green light for the acquisition of street fashion brand Stefanel by clothing retailer OVS, a union member said.

The retailer is in exclusive talks to buy Stefanel, which is under a special administration, for a total of 3.2 million euros.

OVS will buy the brand and 23 stores from a total of 27 stores, but will not acquire Stefanel’s headquarters, Margherita Grigolato, of the FILCAMS-CGIL union told Reuters.

Reporting by Riccardo Bastianello, written by Giulia Segreti, editing by Francesca Landini

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