Feb 8 (Reuters) - Specialty Fashion Group Ltd SFH.AX -
* Confirms that it has received a confidential, indicative and non-binding proposal from a middle eastern investment company
* Proposal for a potential change of control transaction resulting in privatisation of group at a price of $0.70 per share in cash
* Group has granted counterparty access to due diligence customary of a proposal of this nature Source text for Eikon: ID:nASX1llBFx Further company coverage: SFH.AX