CVC Capital Partners, the venture fund that controls Formula 1's commercial rights, manages a diverse portfolio of global entities, including blue-chip companies operating in postal/communications, transport, hospitality, chemical and utilities sectors.
One of the companies it acquired and restructured before listing in Asia - much as CVC (twice) intended for F1, using a virtually identical model - is Samsonite, the luggage manufacturer.
Imagine that during CVC's watch a variety of regulatory, commercial and environmental concerns, plus plummeting market acceptance, forced not only the company but also the entire baggage industry to totally revamp its products through the introduction of environmentally friendly hi-tech materials and processes. Four years' notice is granted, albeit with an already extended deadline of March 15, 2014.
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