CVC and RBS sell $290m stake in Samsonite

Samsonite, a maker of high-end luggage, operates joint headquarters in both Luxembourg and the US. It was acquired by CVC in October 2007. The company was floated on the Hong Kong Stock Exchange in 2011, raising $1.25bn in total, $821m of which went to CVC and RBS.

The investors sold 138.3 million shares at HKD 16.20 per share. The price represents a 4.9% discount from Friday's closing price. About 65% of the shares sold were previously owned by CVC.

Following the sale, CVC and RBS will have reduced their stake to less than 10% and agreed on a 90-day lock-up. Samsonite's market cap stands at HKD 23.16bn (€2.23bn).

Goldman Sachs underwrote the sale.

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• Topics
• Benelux
• Investments
• CVC Capital Partners
• Royal Bank of Scotland
• United States
• Luxembourg