VTB Capital secures acquisition of Roberto Cavalli with advance payment in cash

Russian based VTB Capital Group has secured the acquisition of 70% of Italian luxury house of Roberto Cavalli by making the first installment payment, in cash – as reported by Italian media. Roberto Cavalli will retain 30% of his eponymous company which was evaluated at 400 million euros.  VTB Capital is run by Italian banker Ricardo Orcel, the brother of Andrea Orcel, head of UBS’ investments division.

Roberto Cavalli store and Cafe in St Tropez