New York businessman Miguel de la Torre, the founder and chairman of Movado watches, said on Tuesday he has sold his company to a private equity firm for $5.3 billion in a deal that would create the largest private equity investment in the world.

In a statement, the New York Times reported that the company said it would pay $539 million in cash for Movado, the largest takeover of a retail company in history.

The deal, expected to close in the first half of 2019, would give Movado the world’s largest private-equity stake in a company that owns about 40 percent of the U.S. luxury watch market, according to the New Times.

It is also the largest divestiture of a luxury brand in history, according the Times.

Miguel de la Tercera, who was named chairman of the board of Movados parent company, Movado Inc., on Tuesday said he had decided to sell Movado in order to “rebuild and expand” the business.

“I have decided to leave Movado,” he said.

“The world has changed.

We need to re-imagine the company and the products it sells.”

Movado’s brands include the Movado and Movado Classic.

It owns more than 100 brands in the U.

“I am very proud of my products and the way they make people feel,” de la Terra said in a statement.

“They are also a source of pride for me.”

In the past, de la Torres had said he planned to sell his stake in Movados to a non-profit organization, according a press release from the company.

But after the sale, he said he decided to put Movado back on the market to pursue new ventures.

Movados is not the only luxury watch company in trouble, according an Associated Press report.

In March, a consortium led by private equity firms KKR and Bain Capital took control of Omega and Audemars Piguet, the brands of the German luxury watch maker.

The consortium bought about $7 billion worth of assets from both companies.

Omega said in its statement that it had been forced to suspend its operations due to the takeover, and that the sale had been a “complex, difficult and disruptive transaction.”KKR said in March that it would not acquire the brands in question, but it also said it was not surprised by the takeover.

In the case of Movos watches, a number of the brands are based in New York, including Movado Watch, which is based in Brooklyn, and Movas Sports, which also is based there.

In an effort to sell some of its brands, the company has said it will focus on a number that were previously owned by other companies, including its Sport range.

It has also sold its other luxury brands, such as the Watch and Sport watches, in recent years.MOVOS said it expected to sell the brands it owns “to new or existing brands that will be able to compete for consumers and ultimately profit.”MOVADO WATCH, Movas SPORTS AND SPORTS IN NUMBERS (via Reuters)1.

Movado watch, $5,379,9002.

Movados sports watch, around $1,000,0003.

Movados watch, over $600,0004.

Movada sports watch in color, around £500,0005.

Movas sports watch black, over £200,0006.

Mova Sport, around €500,007.

Movos Sport in color gold, over €600,008.

Movades Sport black, around ₩10,0009.

Movazos Sport, over ₹2,00010.

Movajos Sport gold, around ¾,000Source: Reuters