Italy's supermarket chain Esselunga picks Citi to assess possible bids: sources
People walk beneath a Citibank branch logo in the financial district of San Francisco, California July 17, 2009. REUTERS/Robert Galbraith/File Photo
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
MILAN/ROME (Reuters) - The 90-year old founder of leading Italian supermarket chain Esselunga is considering a possible sale and has picked Citigroup (NYSE: C) as adviser to assess expressions of interest by private equity funds, two sources close to the matter said.
One of the sources said CVC Capital Partners and Blackstone had expressed interest in the group, Italy's third largest supermarket chain with revenues of 7.3 billion euros in 2015.
Citi and Esselunga, founded in 1957 by Bernardo Caprotti and his brothers together with nelson Rockefeller, declined to comment.
(Reporting by Elisa Anzolin and Francesca Piscioneri)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Citigroup fourth-quarter markets revenue trending up 20 percent vs year ago
- Poll: U.S. bull market seen extending into 2017 but Trump a wild card
- Assange releases testimony from London questioning, says he is innocent
Create E-mail Alert Related CategoriesReuters
Related EntitiesCiti, CVC Capital Partners
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!