Gazal Corporation (ASX:GZL) has responded to Fairfax media reports about a potential take-private proposal by PVH Corp.
Gazal says it is in preliminary discussions with PVH around the potential privatization of Gazal.
The branded clothing company says discussions are in very early stages and may not result in a proposal.
PVH is a 50:50 partner in Gazal in the PVH Brands Australia joint venture (JV), and, is in regular discussions with PVH regarding the JV business.
Shares in Gazal Corporation (ASX:GZL) is up 3.81 per cent to $4.36.