FRANCE: Borletti in exclusive talks to acquire Printemps
By Stuart Todd | 20 February 2013
Italian investment group Borletti is in exclusive negotiations with Deutsche Bank's real estate arm, Rreef, to acquire its stake in French department store chain Printemps.
Printemps is 70% owned by Rreef with Borletti accounting for the remaining 30% of its capital. It reported a 2011 turnover of EUR1.45bn (US$1.9bn).
A statement issued by Rreef adds that Borletti is partnered in its bid by (unidentified) Qatari investors.
Market analysts estimate the value of the deal at around EUR1.6bn and say a firm offer could be submitted in the coming weeks.
Printemps, which has 16 department stores in France, was acquired by Rreef and Borletti from PPR in 2006 for EUR 1.1bn.
Borletti and its chief, Maurizio Borletti, have overseen major renovation work at Printemps' flagship store on Boulevard Haussmann in Paris.
Rreef had planned to relinquish its shareholding in Printemps by the second half of 2014 at the latest, with Borletti having first refusal on the stake.
Expert analysis
Department Stores in France: Market Snapshot to 2016
Canadean’s, "Department Stores in France: Market Snapshot to 2016" contains detailed historic and forecast retail sales value of Department Stores in France. The report provides an opinion to help companies in the retail industry better understand the changes in their environment, seize opportunities and formulate crucial business strategies.
Sectors: Apparel, Finance, Retail
Companies: PPR
View next/previous articles
Currently reading -
FRANCE: Borletti in exclusive talks to acquire Printemps
20 Feb 2013 -
Related research
PPR S.A. (PP) - Financial and Strategic SWOT Analysis Review
PPR S.A. (PPR) is a specialized retail and luxury goods distribution company. The company’s retail division markets luxury goods, fashion and beauty care, and home furnishings markets. It operates business through five branches namely Fnac, Redcats, ...
Datamonitor's Department Stores in Europe industry profile is an essential resource for top-level data and analysis covering the Department Stores industry. It includes data on market size and segmentation, plus textual and graphical analysis of the ...
Online Retail in Europe industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key fina...
There are currently no comments on this article
Be the first to comment on this article