Chinese conglomerate Yida International Investment is said to have put forward a 7.5 billion euros bid for Italy leading supermarket chain Esselunga, Repubblica, wrote yesterday adding that the offer has not been solicited.
The valutaion is much higher than the 6 billion euros one put forward by private equity firms Blackstone and Cvc Capital Partners last year (see here a previous post by BeBeez).
Last March Giuliana Albera e Maryna Silvia Caprotti, who are second wife and third daugether of Esselunga’s founder Bernardo Caprotti (passed away last Autumn) owning a 70% stake in the operative company Supermarkets Italiani and a 55% stake in the real estate company La Villata, decided to freeze the sale mandate to Citigroup who was given by Mr. Caprotti a few weeks before he died,  MF Milano Finanza wrote.
On the other side Bernardo Caprotti’s first marriage children, Giuseppe and Violetta, owning the remaining 30% stake in Esselunga and the 45% stake in La Villata, are willing to sell the company.
Esselunga counts 153 stores and 22 thousand employees and posted 7.3 billion euros in revenues in 2015 (up 4.3% from 2014) with 291 millions in net profit (up 37%) (see here an analysis by Leanus, after free registration and login).
