{"id":184658,"date":"2025-12-16T12:59:49","date_gmt":"2025-12-16T11:59:49","guid":{"rendered":"https:\/\/luxus-plus.com\/?p=184658"},"modified":"2025-12-16T12:59:49","modified_gmt":"2025-12-16T11:59:49","slug":"kering-sells-60-of-its-fifth-avenue-building","status":"publish","type":"post","link":"https:\/\/luxus-plus.com\/en\/kering-sells-60-of-its-fifth-avenue-building\/","title":{"rendered":"Kering sells 60% of its Fifth Avenue building "},"content":{"rendered":"

Just two years after acquiring it, the luxury group has signed an agreement with French company Ardian to sell it the majority of shares in this prestigious New York asset. The deal, which will bring Kering $690 million, will enable it to continue reducing its debt while securing this location.<\/h4>\n

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Kering<\/b> continues its slimming regime under the leadership of its CEO, Luca de Meo<\/b>.<\/p>\n

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On December 15, the luxury group announced an agreement \u201cwith immediate effect\u201d with French investment company Ardian<\/b> for the sale of 60% of a prestigious building in New York<\/b>. Kering acquired this asset, located at 715-717 Fifth Avenue, in January 2024 for \u20ac885 million ($963 million).<\/p>\n

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Joint venture<\/h2>\n

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\u201cKering is contributing this asset to a newly created joint venture<\/b> with Ardian, which will hold 60% of the asset, while Kering will retain 40%,\u201d ,\u201c the group explained in a press release, specifying that \u201dthe transaction amounts to $900 million<\/b> (\u20ac766 million), for which\u201c the luxury group \u201dwill receive a net amount of $690 million<\/b> (\u20ac587 million).”<\/p>\n

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