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BREAKING NEWS

Minority investors in Italy's Esselunga pick advisers for stake sale

Minority investors in Italy's Esselunga pick advisers for stake sale
FILE PHOTO: A man pushes shopping carts outside Esselunga supermarket in Pioltello near Milan, northern Italy, September 13, 2016. REUTERS/Flavio Lo Scalzo/File Photo -
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Flavio Lo Scalzo(Reuters)
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MILAN (Reuters) - Minority investors in Italian supermarket chain Esselunga have picked advisers to assess the value of their stakes as they prepare to sell their holdings to majority shareholders.

Heirs of the late Esselunga founder Bernardo Caprotti are trying to settle a dispute over the ownership of the company following his death in 2016.

A spokesman for Violetta Caprotti said she had picked Mediobanca as an adviser while her brother Giuseppe would be advised by Marco Costaguta and Marco Lippi.

Violetta and Giuseppe Caprotti, born out of the entrepreneur's first marriage, are selling their stakes in Esselunga's parent company Supermarkets Italiani to Caprotti's second wife Giuliana and their daughter Marina.

Marina and Giuliana together already own 70 percent of Supermarkets Italiani and had a call option to buy the rest. They have hired advisory boutique Zaoui & Co to assess strategic options for the retailer.

(Reporting by Claudia Cristoferi; Writing by Francesca Landini; Editing by Louise Heavens)

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