BC Partners Buys Gruppo Coin in $1.34B Deal

Buyout shop BC Partners will buy Italian clothing retailer Gruppo Coin in a deal valuing the company at 930 million euros ($1.34 billion), Reuters reported. The firm will acquire 78.7% of Gruppo Coin, buying a large part of its a stake from PAI Partners, Reuters said. PAI Partners currently owns 69.3% of Coin.

(Reuters) – Private equity firm BC Partners is buying Italian clothing retailer Gruppo Coin in a deal valuing the company at 930 million euros ($1.34 billion), BC Partners, Coin and its main owner said on Monday.

BC Partners will acquire 78.7 percent of Coin, including a big stake from private equity firm PAI Partners, and plans a bid for other shares, paying 6.50 euros per share for the stakes and in the bid, they said in a statement.

“Coin is ideally positioned to continue the grow pursued in the last six years,” BC Partners Managing Director Nikos Stathopoulos said in the statement.

The deal is subject to antitrust approval and banks making funds available for the deal, the companies said.

In the year to Jan. 31, Coin’s sales rose 38 percent to 1.736 billion euros, boosted by acquisition of rival Italian store chain UPIM.

PAI Partners owns 69.3 percent of Coin, according to bourse regulator Consob.

Coin’s shares rose sharply on Friday on speculation of an imminent sale. They closed at 7.1 euros.

(Writing by Nigel Tutt; Editing by Mike Nesbit)

($1=.6953 euros)