Indian billionaire Lakshmi Mittal could take over GIANFRANCO FERRE

Troubled Italian fashion house GIANFRANCO FERRE owned by Ittierre IT Holding has raised the interest of Usha Mittal, wife of Indian billionaire Lakshmi Mittal, one of the world’s top 10 richest men. It is reported that Usha Mittal will jointly make an offer for the Italian fashion house with Ccp Change Capital Partners, investment fund which recently took over JIL SANDER. Rumours in the media estimate the price tag of FERRE at EURO 140-150 million, taking into consideration the fact that the company has accummulated huge debts. IT Holding has been placed under protection of bankruptcy law since early this year.