Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

La Rinascente in sale talks

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.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.