CVC Capital Partners, a private equity firm, agreed to acquire a 49% stake in I.T, a Hong Kong-based fashion retailer, for $168m. The deal is still subject to shareholder approval. The offer will equate to roughly $0.4 per share, marking a 54% premium over its last closing price at $0.25 right before I.T suspended trading on November 30. If the deal goes through, CEO’s stake in the group will drop from 63.31 percent to 50.65 percent, giving CVC the remaining 49.35 percent.