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CRC To Buy La Rinascente For €260M
La Rinascente shareholders have approved the sale of the company to Thailand’s Central Retail Corporation.
La Rinascenteshareholders have approved the sale of the company to Thailand’sCentral Retail Corporation(CRC),PropertyEUreports. CRC will pay €205 million in cash and assume €55 million of debt in the Italian department store group.
Investitori Associatiis the largest stakeholder inLa Rinascentewith a 46% share, while德意志银行(Deutsche Bank)’sRREEFholds a further 30%, followed byPrelioswith a 20% share. The sale is awaiting approval from the Antitrust authority. The sellers were advised by some ofCitilawyers on the deal.
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