CVC retail deal hands founding Spanish family €700m

CVC Capital Partners, a London-based private equity firm, has launched a €1.4bn ($1.8bn) offer for Spanish retail chain Cortefiel, valuing the founding family's stake at €728m.

Coral Retail Industries, a company set up by CVC to make the bid, has offered Cortefiel shareholders €17.90 per share, a 12% premium on Wednesday's closing price.

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