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Yida eyes Italy supermarket chain Esselunga

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.

Fosun proposes to buy Gemfields

China’sberge owner Fosun Gemfields InternationalPlc, after joinedit madethe race an for initial Faproposal regarding a possible cash offer for the British miner of precious stones.

Fosun Gold, part of Fosun International, said it proposed to buy Gemfields at a price of 40.85 pence ( 52 cents) per Gemfields share, a premium of 15.1 percent to Gemfield’s closing price of 35.5 pence on Tuesday.

Fosun’s proposal values Gemfields, which mines for emeralds and amethysts in Zambia and for ruby and corundum in Mozambique, at 224.6 million pounds. Mining group Pallinghurst Resources in May offered to buy the remaining 52.91 percent it does not already own for about 111.9 million pounds.