CAIRO: CVC Capital Partners and HPS Investment Partners have agreed to buy a stake in the brand developer, Authentic Brands Group, according to Bloomberg. Authentic Brands Group, owner of firms including such as Forever 21 and Brooks Brothers, will be given an enterprise value of $12.7 billion, in a transaction that is expected to close next month, according to a statement. The company will expand its global presence through acquisitions and organic growth, Nick Woodhouse, president and CMO of Authentic Brands Group said. ABG’s initial public offering on the New York Stock Exchange is now delayed to 2023 or 2024, the company said. BlackRock Long-Term Private Capital will remain AGB’s largest shareholder, a position it has held since 2019, according to the statement.