Issue 2011 March 22nd

This issue was created on 2011-03-22 10:01:00

  • Fund set to trump Borletti in Rinascente bidMarch 22, 2011
Italian fund manager First Atlantic Real Estate is expected to close the euro460m acquisition of the iconic Rinascente department store and building in Milan's famous Piazza Duomo this month, despite a counter bid from minority owner Maurizio Borletti. Borletti, who also made an unsuccessful last minute attempt to snap up Karstadt last year, appears to have been unable to persuade the other owners that he can raise the necessary finance to secure the building.
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