Central Retail has made a €250 million bid for Italian retail chain, La Rinascente,The Wall Street Journalreports. The Thailand retailer’s bid includes €205 million cash and the assumption of €45 million debt, if the bid is accepted.

La Rinascenteis 46%owned byInvestitori Associati, while德意志银行(Deutsche Bank)’sRREEFholds a30%share, followed byPrelioswith 20% andMaurizio Borlettiwith the remaining 4%stake.UniCredithas been appointed as an adviser on the sale.

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