PPR to sell Ellos to Nordic Capital

PARIS - French luxury and sports brand PPR is in exclusive talks to sell Ellos, the Scandinavian unit of its Redcats business, to Nordic Capital for an enterprise value of 300 million euros ($395 million), French daily Les Echos said.

The sale to the fund should be completed within two to three months, Les Echos reported on Monday, without citing sources. PPR has been shedding parts of its Redcats mail order business after failing to find a buyer for the whole unit.

In January, the group entered exclusive talks to sell its Cyrillus and Vertbaudet children's clothing brands to Alpha Private Equity Fund for 119 million euros including debt.

It also sold its U.S. plus-size fashion business OneStopPlus Group sold to private equity group Charlesbank Capital Partners and Webster Capital for an enterprise value of $525 million in December.

PPR was not immediately reachable for comment.