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Roberto Cavalli finds investor

Roberto Cavalli is to sell a minority stake in his label to Italian private equity firm Clessidra Capital Partners.

According to reports Cavalli is close to signing a deal with Clessidra Capital Partners, which has links to the Italian Prime Minister Silvio Berlusconi.

Cavalli hired Merrill Lynch to look at options for a £1.4 billion floatation or sale of the fashion label, which is best known for its vibrant prints. However his plans were scuppered by the credit crunch and economic downturn.

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