PRINT THIS PAGE Consortium including Investitori Associati buys textile activities of La Rinascente for €888m14/03/2005. Source: AltAssets. 
 A consortium consisting of the Italian buy-out firm Investitori Associati, Italian Pirelli RE, German Deutsche Bank Real Estate Global Opportunities and the Italian Borletti family has won the auction for the textile activities of La Rinascente with a €888m bid. The auction began in September 2004.
La Rinascente operates department stores under the laRinascente and Upim brands with a gross consolidated turnover of €925m in 2004. The roots of La Rinascente, an Italian department store chain, go back to the year 1865 when Ferdinando Bocconi opened the first shop in Milan. Now the company has department stores across Italy. Since 1997 the business had been jointly owned by Italian Ifil and French Auchan.
Milan-based Investitori Associati closed its fourth private equity fund, Investitori Associati IV, in 2004 with €700m of commitments. The firm's third fund, Investitori Associati III, closed on €400m in 2000.
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