U.S investment firm Starwood Capital has put French crystal maker Baccarat (CDBP.PA) up for sale and the best offer so far has come from a Chinese group, French daily L’Agefi said on Friday, citing several sources.

Starwood, which is eyeing a valuation for Baccarat of 200 million euros ($223.16 million), has commissioned Messier Maris & Associes bank to handle the sale, the paper reported.

“A Chinese group has come out on top, with an offer close to the valuation Starwood is hoping for,” L’Agefi quoted a source as saying. It did not disclose the identity of the Chinese buyer.

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