BC Partners readies Coin department stores for sale

Venture capital owner of Italian department store chain Coin is accelerating the sales process by tasking Rothschild investment bank with an exploratory mandate to evaluate the various options.

The fund, owner of the retailer after it acquired the business from PAI Capital Partners in 2011, would have been reportedly exploring different solutions such as the sale of Coin to another private equity firm or a sovereign fund or even taking it public.

Sources close to the matter cited by the ‘Sole-24Ore’ said the sale would only concern the Coin brand and its network of about 40 stores, which generated a turnover of 400 million euros.

Listed OVS, however, also controlled by BC partners and where the Coin group acquired a stake in 2014 through a spin off later unveiled. It’s noteworthy that over the past few weeks, Coin has further reduced its stake in OVS from 42.11 percent to 30.17 percent, after ceding 10 percent in 2016. This has been seen by many in the industry as a clear indication of BC Partners’ plans regarding Coin.