PARIS – Three key shareholders of French fashion group SMCP have hired investment bank Lazard Frères to sell up to 51.2 percent of its share capital.

The parent company of the Sandro, Maje, Claudie Pierlot and Fursac fashion chains said it was informed on Thursday that the sale process has been initiated.

“ SMCP welcomes this potential sale, which would enable the group to stabilize its shareholder structure and focus on pursuing its development strategy,” the company said in a brief press release. “This sale process is expected to last several months.”

The shares up for sale include:

the 28 percent held by GLAS, trustee for the bonds issued in 2018 by European TopSoho S.à.r.l.

the 15.5 percent stake now held and managed by ETS, previously at the center of a “missing shares” sag

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