March 23, 2020 / 10:59 AM / 18 days ago

Unicredit buys 32.5% of Italy's Esselunga real estate unit - source

MILANO, March 23 (Reuters) - Italy’s biggest lender UniCredit has bought a minority stake in the company which owns the real estate assets of supermarket chain Esselunga for 435 million euros, a source said on Monday.

On Saturday family-owned Esselunga said the majority owners of its parent company Supermarkets Italiani had reached an agreement to buy the remaining 30 percent of the company, in a deal that values Esselunga 6.1 billion euros.

Supermarkets Italiani’s main shareholders said in a statement they would sell 32.5% of real estate unit La Villata for 435 million euros to a financial investor to partially finance the deal, without naming them.

Reporting by Elisa Anzolin, editing by Giulia Segreti

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