Italian department store chain La Rinascente could be up for grabs, after its three major stakeholders started discussions about selling their shares.
According to reports, investment bank Deutsche Bank, which owns 30% of the 13-store chain, Italian landlord Prelios, which owns 20%, and Italian private equity firm Investitori Associati, which owns 46%, are all in talks to sell their shares.
The three companies acquired their respective stakes in La Rinascente, which has the same sort of status in Italy as Selfridges in London, in 2005.
It is not known whether they have started a formal sale process, but according to reports in the Italian press the three companies are in discussions with Thai distribution group Central Retail Corp and are being advised by Morgan Stanley and banker Claudio Costamagna.
Private equity firm Borletti Group, which owns 4% of La Rinascente, is in discussions with potential suitors to take a stake in the department store chain, including luxury brands. According to one Italian newspaper, Prada, LVMH and PPR could be in the running to snap up shares.