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China's Yida interested in Italy's supermarket chain Esselunga - paper
June 15, 2017 / 5:46 AM / 3 months ago

China's Yida interested in Italy's supermarket chain Esselunga - paper

MILAN, June 15 (Reuters) - Chinese Group Yida International Investment has formally expressed interest in Esselunga, Italy’s fourth-largest supermarket chain, Italian daily la Repubblica reported on Thursday.

* Offer for supermarket chain amounts to 7.5 billion euros, higher than a valuation of 4 billion euros to 6 billion euros made by private equity funds Blackstone and CVC Capital Partners in September, ahead of the death of 90-year old founder and owner Bernardo Caprotti

* Offer unexpected by current owners of Esselunga, Caprotti’s second wife Giuliana Albrera and their daughter Marina Caprotti, the latter interested in maintaining ownership of the group and managing it under current chief executive, Carlo Salza (Reporting by Giulia Segreti)

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