Bulgari Selling Opera Unit

Bulgari SpA is ready to sell its private equity unit Opera to Michele Russo, a banker with a long international experience in private equity, daily Il Sole 24 Ore reported, without identifying its sources.

Russo is expected to buy a 75% stake in Opera in a deal which might be reached shortly, it said.

Opera has a portfolio worth more than 300 million eur that includes brands representing the 'Italian lifestyle', it said.

Bulgari currently holds 50% of Opera with the remaining stake held by Opera's management, it said.