Hong Kong billionaire brothers Victor and William Fung have reached out to prospective buyers as they look to sell their stake in the 192-year-old Belgian luxury bag brand, Delvaux, according to a Bloomberg report.
The brothers are working with advisers on a sale could value Delvaux at around $500 million to $600 million, unidentified sources were quoted as saying in the report.
The brothers acquired the stake together with Singapore state investment company Temasek Holdings in a 2011 deal, giving the two parties majority control of the company.
Deliberations are ongoing and the Fungs could decide to keep their stake in the business, according to the report. Representative for Fung Group and Delvaux had no immediate comment.