CVC About To Agree Sale Of Dutch Retailer C1000 - Sources
24 November 2011 - 3:30AM
Dow Jones News
CVC Capital Partners is about to agree a sale of Dutch
supermarket chain C1000 with a trade buyer, people familiar with
the situation told Dow Jones Newswires on Wednesday.
Potential buyers include rival Dutch retailers Sligro Food Group
NV (SLIGR.AE) and Jumbo Group Holding BV, and German retailer
Edeka, which had all submitted initial offers. Buyout firms Bain
Capital and BC Partners had also bid in the first round.
CVC Capital Partners bought C1000 for EUR695 million in 2008 and
earlier this year hired Goldman Sachs Group Inc. (GS) to run an
auction.
C1000 has around 400 stores and is the number-two supermarket
chain in the Netherlands, after Ahold. Its revenue in 2010 was
about EUR3.7 billion.
Reports suggest the bidding range was between EUR600 million and
EUR1 billion.
-By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241;
marietta.cauchi@dowjones.com
(Jessica Hodgson in London and Bart Koster in Amsterdam
contributed to this article.)
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