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News
Somerfield deal sealed
The European Commission has approved the £1.1 billion takeover of Somerfield
The European Commission has approved the £1.1 billion takeover of Somerfield by a consortium including Iranian property tycoon Robert Tchenguiz, private equity firm Apax Partners, investment bank Barclays Capital and four of Somerfield’s executive directors, including chief executive Steve Back.
Bristol-based Somerfield, the UK’s fifth largest supermarket, also owns the Kwik-Save chain.