Chinese Group Yida International Investment has formally expressed interest in Esselunga, Italy's fourth-largest supermarket chain, Italian daily la Repubblica reported on Thursday.
The company's offer for the supermarket chain amounts to 7.5 billion euros ($8.38 billion), higher than a valuation of 4 billion euros to 6 billion euros made by private equity funds Blackstone and CVC Capital Partners in September, ahead of the death of 90-year-old founder and owner Bernardo Caprotti.
Caprotti's daughter Marina Caprotti is interested in maintaining ownership of the group and managing it under Chief Executive Carlo Salza.
