Global Luxury Fashion Group, LANVIN is Set to Become Publicly-Traded on the NYSE via Business Combination with Primavera Capital Acquisition Corporation

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Lanvin Group (the “Group”), a global luxury fashion group and Primavera Capital Acquisition Corporation (NYSE: PV) (“PCAC”), announced today they have entered into a definitive business combination agreement that is expected to list Lanvin Group on the New York Stock Exchange under the ticker symbol “LANV”. PCAC is a special purpose acquisition company listed on The New York Stock Exchange and is also an affiliate of Primavera Capital Group (“Primavera”), a leading global investment firm with over US$17 billion of assets under management.

The transaction values Lanvin Group at a pro forma enterprise value of US$1.5 billion, with a combined pro forma equity value of up to US$1.9 billion. Through the business combination, Lanvin Group, which was established by Fosun International Limited (0656. HK) (“Fosun International”) in 2017, is expected to benefit from Primavera’s extensive networks and insights in the consumer sector, together with a robust balance sheet, to create long-term sustainable value across its portfolio and to catalyze growth with further acquisitions.

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