L Capital 2 FCPR, an investment group sponsored by LVMH Moët Hennessy Louis Vuitton and Groupe Arnault, is set to acquire Princess Yachts International, pending antitrust approvals. Financial terms were not disclosed, but L Capital said it controls 70 percent of Princess' voting rights and has co-investors, including the Belgian firm Cobepa.
Princess, founded in 1965, makes hand-built motor yachts ranging from 42 to 95 feet.
Separately, Financière Agache Private Equity, part of Groupe Arnault, said it would invest 100 million euros, or $155.4 million at current exchange, in
For more, see Wednesday’s issue of WWD.