Clessidra says buys Giochi Preziosi stake

LONDON (Reuters) - Italian buyout firm Clessidra said on Tuesday it was part of a consortium buying Giochi Preziosi, Italy's biggest toymaker, from UK buyout firm 3i Group (III.L) for about 740 million euros ($1.16 billion) including debt assumed.

Under the terms of the deal, which will see 3i sell its 52 percent stake in the toymaker, founder Enrico Preziosi will cut his stake from 47 percent to 45 percent, while a Clessidra-led vehicle will hold 40 percent and Italian bank Intesa Sanpaolo (ISP.MI) will own 15 percent, a spokesman said.

3i declined to comment.

The transaction is backed with a senior 375 million euro loan, banking sources said.

Barclays, BNP Paribas, Intesa Sanpaolo, Natixis and UniCredit are providing debt to the buyers for the transaction.

(Reporting by Zaida Espana and Mathieu Robbins, editing by Will Waterman)