MILAN Oct 5 The family holding controlling
Italian supermarket chain Esselunga said on Wednesday it would
not proceed for now with a sale of the group after the death of
its owner last week.
Ninety-year old Bernardo Caprotti, who founded Esselunga in
1957, had in recent months started talks with at least four
private equity funds - including Blackstone, BC Partners
and CVC Capital Partners - over a possible sale for up
to 6 billion euros ($6.72 billion).
In a statement, Supermarkets Italiani said its board had
decided not to "proceed, as things stand, with operations
related to its unit Esselunga".
Caprotti, who died on Friday, had been exploring a sale
partly because he did not want to leave Esselunga to his
squabbling children, according to sources close to the matter.
($1 = 0.8932 euros)
(Reporting by Silvia Aloisi; editing by Agnieszka Flak)