* Shareholder Financiere Tintoretto launches sale process
* Coin forecasts FY EBITDA of 200 mln euro
* Shares closed up 3.1 pct; outperform Milan market
MILAN, Nov 17 The majority shareholder in
Gruppo Coin GCN.MI has launched the formal process to sell
its stake in the Italian retailer and expects to choose a buyer
by the end of the first quarter, it said on Wednesday.
Financiere Tintoretto SA, majority-owned by private equity
firm PAI Partners, has appointed Italian investment bank
Mediobanca SpA (MDBI.MI) and UBS Italia SIM SpA UBSN.VX to
advise on the sale of its 69 percent in Coin.
"The selection of a purchaser is currently expected to
occur within the first quarter of 2011," it said.
In September PAI Partners was aiming to sell the stake in
Coin by the year-end, a source close to the operation had said.
Private equity buyers across Europe have been cited as
possible buyers of the stake in Coin, which has a 1 billion
euro market capitalisation.
In a separate statement, Coin said it will make information
available to potential buyers of the stake.
Coin, Italy's biggest clothes retailer after its purchase
of Upim in January, sees earnings before interest tax,
depreciation and amortisation of 200 million euros in the year
to Jan. 31, 2011, up 34 percent, it said.
Its 3-year plan for 2011-2013, approved by the board on
Wednesday, is based on modest sales growth as it completes the
Upim integration, it said.
Coin shares closed up 3.1 percent at 7.29 euros ahead of
the statements. Milan's all share index .FTITLMS rose 0.45
(Writing by Nigel Tutt; Editing by Richard Chang)