Maurizio Borletti, one of the main shareholders in the Italian RINASCENTE chain of department stores is in exclusive negotiations with the holding PPR to buy LE PRINTEMPS department stores from the former (5287 employees in 18 shops), for €1.07 bn. It has the support of a consortium consisting of NATEXIS and DEUTSCHE BANK backing it in its takeover bid. Mr Borletti has declared that he wants to invest € 280 million over 5 years in the chain of shops.