ITALY –Investitori Associati joins the pack of suitors for CIT

Rumour has it that binding offers have been presented by some of the interested parties, including Bluvacanze, the business owned by buyout house Investitori Associati, a consortium of trade buyers fronted by Grandi Viaggi-Aurum, hospitality chain Soglia Hotel and merchant bank Grove Capital.

Concerns over the variety of suitors, active in diverse segments of the travel industry and a likely focus on particular parts of the business post acquisition, were dismissed by the group’s extraordinary administrator. Antonio Nuzzo is believed to have said all the binding offers committed to a total relaunch of the company within the segments in which it operates.

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