HSBC CCF is set to benefit from its close advisory relationship with Pinault Printemps Redoute (PPR) as the the French retail giant prepares to sell its business-to-business assets in a disposal programme that could raise up to €5bn ($5.3bn).

In August last year HSBC advised PPR on the €825m sale of the direct mail order business of its Guibert office supplies unit to Staples. The bank is a long-term corporate finance adviser to PPR, one of the world's biggest retail groups with a stable of brands ranging from Gucci, the Italian fashion house, to Fnac, the French high street consumer electronics chain.