ITALY: Auchan and Ifil to bid for remainder of Rinascente
French retailer Auchan and Italian holding company Ifil have announced their intention to buy shares they do not already own in Italian department store chain Rinascente. Ifil is controlled by the Agnelli family, which is better known for its control of car manufacturer Fiat. The joint bid is said to be worth €735.4m (US$721.1m). The deal is likely to be finalised following consultation with Italian market authorities, and the share buyout is likely to start in November and finish in December this year.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Comment: Premier has more to ponder than Brexit
- The food market in 2017 - consumer trends and M&A
- Trump seen as negative for global food trade
- Analysis: B&G Foods balancing growth and decline
- 2017: three major drivers of M&A strategy
- Nestle mum on Mead Johnson takeover talk
- Weetabix takeover talk gathers pace
- Unilever rebrands I Can't Believe It's Not Butter
- Mondelez sells Vegemite to Bega
- Kellogg to slash 250 jobs