QuattroR SGR SpA reached a deal to acquire a majority stake in Italian fashion house Trussardi SpA, Reuters reported, citing two undisclosed sources.

The Milan, Italy-based private equity firm will purchase a stake of up to 80% through an equity-linked investment of about €50 million, the sources told the news outlet.

QuattroR and Finanziaria Operazioni Societarie Spa Finos, through which the Trussardi family owns the embattled fashion house, agreed Dec. 20 to create a fund that will be 70%- to 80%-owned by QuattroR, one source said.

Tomaso Trussardi will hold a minority stake in the company, the person said, while Marialuisa Trussardi Gavazzeni will own a small stake.

To close the transaction, Trussardi needs to reach a deal with the creditor banks, expected to be reached by mid-January, one source added.

QuattroR, owned in part by Italy's state bank Cassa depositi e prestiti SpA, and Trussardi did not comment on the transaction.