When Somerfield bought 115 stores from Morrison last year for Â£260mn, competition authorities were not impressed. The UK’s fifth largest supermarket chain was told to sell 12 stores. Now Somerfield has appealed, saying that many of the areas in question also boast a Tescos or Asda. amp;#63;
Meanwhile, the battle to own Somerfield rumbles on. On one side is the Apex consortium, consisting of British buyout firm Apax, Barclays Capital and property mogul, Robert Tchenguiz. On the other side are the property tycoons Ian and Richard Livingstone, who own the London & Regional property group. Earlier this week, the Livingstone brothers bid appeared to lose momentum, after United Co-operatives, the Rochdale-based retailer, pulled out of negotiations to buy 500 Somerfield stores from the consortium, if it was successful.
© Investment & Business News 2013