Central Retail has made a €250 million bid for Italian retail chain, La Rinascente, The Wall Street Journal reports. The Thailand retailer’s bid includes €205 million cash and the assumption of €45 million debt, if the bid is accepted. La Rinascente is 46% owned by Investitori Associati, while Deutsche Bank’s RREEF holds a 30% share, followed by Prelios with 20% and Maurizio Borletti with the remaining 4% stake. UniCredit has been appointed as an adviser on the sale.

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