Central Retail Corporation to divest Italian department store business for €250m

Central Retail Corporation (CRC) has agreed to sell its Italian department store business, Rinascente, to its principal shareholder, Harng Central Department Store (HCDS), for €250m (approximately Bt9.38bn). In a disclosure to the Stock Exchange of Thailand (SET), the Thai retailer stated that its board approved the acquisition offer from HCDS. The deal involves the complete transfer of shares in CRC Holland, which operates Rinascente, and the settlement of a shareholder loan amounting to around €141m ($ ...