Breitling Sells to CVC for $870 Million USD

CVC Capital Partners has announced the purchase of an 80% stake in Breitling. Best known for its luxury Swiss watches, Breitling's current CEO and majority holder Theodore Schneider will re-invest into the company to hold on to the remaining 20% stake. With its watches costing anywhere between $3,000 to $255,000 USD, Breitling is one of the largest Swiss watch manufacturers. With other brands being sold off to competitors, Breitling was able to stay independent for a long time, with one Bloomber...