FRANCE - CNP turns down Taittinger

Star GT Acquisition, an indirect affiliate of Starwood Capital Group, announced Compagnie Nationale à Portefeuille’s (CNP) decision to withdraw its candidacy for the acquisition of Taittinger. CNP is controlled by Belgian billionaire Albert Frère, who exited his 25% interest in the French champagne producer five months ago. CNP will continue to be subject to the obligations of confidentiality with respect to disclosed financial and other information as well as details regarding the sales process. Star GT Acquisition is continuing to pursue the disposal process of Taittinger, which is expected to receive a first asking price in excess of EUR 500m.