Qatari investment fund acquires Balmain

Paris

A QATARI investment fund, already owner of the Italian Valentino label, will take over French luxury fashion house Balmain, which has become a favourite of film stars, the adviser for the acquisition announced on Tuesday.

"After completing this transaction, Mayhoola for Investments will hold 100 per cent of Balmain's capital," Bucephale Finance, specialists in mergers and acquisitions, said in a statement without revealing how much the Qataris paid for Balmain.