Kaiser’s Tengelmann acquisition talks unsuccessful once more

Kaiser’s Tengelmann acquisition talks unsuccessful once more

Talks between the German supermarket chain Kaiser’s Tengelmann and its biggest competitors Edeka and Rewe about Edeka's intention to acquire Tengelmann led to nothing once more, which means Tengelmann's position has become far more problematic.

End in sight?

Tengelmann has been in the same position for several years. It decided to sell all of its stores to Edeka because of financial reasons, but the German Competitive Authority blocked the arrangement, a move the German government overruled. Competitor Rewe decided to take things to court in an attempt to block the deal, which worked.

 

On Thursday, Tengelmann, ReWe and Edeka sat down to try and find a solution for Tengelmann's problematic conundrum and save as many stores and jobs as possible, but unfortunately for those involved, those talks led to nothing.

 

ReWe wants Tengelmann's stores to go to a range of German supermarket companies, saving every one of the 15,000 jobs in the process, a demand from the German government for any deal to be approved. However, Tengelmann only wants to continue if the current company, in its current shape, can be maintained and its board is even willing to let the company go bankrupt if there is no solution in sight.

Questions or comments? Please feel free to contact the editors


Gerelateerde items

Walmart wants to shed its "store" label

07/12/2017

American Walmart is legally Wal-Mart Stores, but its popular name has long since been Walmart. However, the company will now alter that: in this eCommerce era, it aims to be more than merely a store chain.

Ahold tells Delhaize to innovate faster

05/12/2017

Delhaize should innovate faster and Ahold Delhaize CEO Dick Boer feels Albert Heijn CEO Wouter Kolk should show the Belgians how. He also talked about Amazon and bol.com in the remarkable interview. 

New owner for Kijkshop

04/12/2017

Store chain Kijkshop has a new owner: Swedish investment firm LPCA sold all of its shares to another Swedish company, SparkistanStClemens.

Quiksilver wants to acquire Billabong

01/12/2017

Surfing brand Quiksilver tabled a 150 million dollar (125 million euro) bid for its competitor, Billabong. It may be the latter’s only way out, with compounding losses in the past few years.

Rocket Internet reduces losses

30/11/2017

German incubator Rocket Internet may not be out of the red yet, but it has significantly reduced its deficit, courtesy in part of meal delivery service Delivery Hero's IPO.

Brax takes control of Belgian clothing stores

28/11/2017

German Brax will take control of ten of its eighteen Belgian stores next year. Starting in 1995, the German clothing chain left management in the hands of fashion distributor ARW Retail.

Back to top