March 20, 2020 / 7:32 PM / 13 days ago

Italy's Esselunga valued at 6.1 bln euros in arbitration process - source

MILAN, March 20 (Reuters) - Esselunga, one of Italy’s biggest supermarket chains, has been valued at 6.1 billion euros ($6.5 billion) after an arbitration process, a source close to the matter said on Friday.

Heirs of the late Esselunga founder Bernardo Caprotti have been trying to settle a dispute over the ownership of the company following his death in 2016.

Caprotti’s second wife Giuliana and their daughter Marina - who together own 70% of Supermarkets Italiani, the holding company that owns all of Esselunga - had exercised their right to buy the remaining 30 percent more than a year ago.

An arbitration process was started more than a year ago to assess the value of the 30% stake owned by the two children from Caprotti’s first marriage, Giuseppe and Violetta.

The arbitration officials valued the group as of Dec 31 2016, the source said. ($1 = 0.9393 euros) (Reporting by Claudia Cristoferi, writing by Stephen Jewkes)

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