A statement on Escada’s website confirmed that the group had been in talks with Apax for several months, but that the financial investor had informed the board in early April that “they were not pursuing their plans for an equity investment in Escada any further and will therefore not continue negotiating”.
The statement added that Apax gave “the recent evolution of the stock price and the weakness of the international financial markets” as the basis for not pursuing the transaction.
Apax already has a stake in UK fashion chain New Look.
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