A €485m ($549.79m) agreement has been signed by Mayhoola for Investments S.P.C. to acquire a 100% interest in Pierre Balmain (Balmain).

First rumoured in February, the deal will see infusion of funds to help expand Balmain’s international business and set up a new accessories line.

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"The deal will see infusion of funds to help expand Balmain’s international business and set up a new accessories line."

The acquirer is a Qatar-based investment fund, whereas the French target company manufactures and sells clothing, accessories and footwear.

UK-based retail distributor Appleby Westward Group will acquire Gillett’s Callington in a transaction that is expected to be completed in July.

Also based in the UK, the target company operates a chain of convenience stores.