Patek Philippe thought to be in line for €9bn sale

Patek Philippe, the closely held maker of $10,000+ Calatrava watches, may be coming up for sale, according to analysts at Berenberg who cited industry talk.

The 180-year-old Swiss watchmaker could fetch €7bn-€9bn, analysts led by Zuzanna Pusz wrote in a note. Patek Philippe has been owned by the Stern family for almost a century, and Thierry Stern became the company’s chairman in 2009.