Clessidra and Carlyle circle Coin
Private equity firms Clessidra and Carlyle Group have expressed an interest in purchasing PAI Partners’ 69% stake in Italian retailer Gruppo Coin.
Clessidra CEO Claudio Sposito has cited the company's "excellent management" as an influencing factor. The business is reportedly valued at €1.5bn.
PAI Partners aims to auction its shareholding by the end of the year with the help of UBS and Mediobanca. Apax, Cinven and Investindustrial are thought to be among a group of interested bidders..
The department store chain, which consists of the Coin and Oviesse shops, bought its smaller competitor, Upim, in January 2010.
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