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  1. Wealth
October 26, 2009

Times: Sheikh to buy Christian Lacroix for -100m?

By Spear's

A sheikh from the United Arab Emirates is likely to take over Christian Lacroix, the loss-making French fashion house, tomorrow when his -100 million (£92 million) rescue deal goes before the Paris Commercial Court.

A sheikh from the United Arab Emirates is likely to take over Christian Lacroix, the loss-making French fashion house, tomorrow when his €100 million (£92 million) rescue deal goes before the Paris Commercial Court.

Sheikh Hassan bin Ali al-Nuaimi, a nephew of the ruler of Ajman, the smallest member of the UAE, has emerged as a clear favourite to become owner of the designer.

Lacroix’s house went into administration in May after filing for protection from creditors as the global crisis hit its already weak finances.

Rival offers have been submitted by Bernard Krief Consulting, of France, and the Financière Saint-Germain, a holding company that owns Daum and Lalique, the crystalware makers.

To read the full story, visit timesonline.co.uk

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