Germany’s competition watchdog has approved the merger of Tengelmann’s Plus discount stores with Edeka’s Netto chain.
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“After eight months of delay, the merger will now progress. We expect completion in January,” a spokesperson for German retailer Tengelmann told just-food.
Germany’s Federal Cartel Office had held up the deal over concerns that it would restrict competition.
“There was a concern that Edeka would have a dominant market position in a number of local markets following the merger,” a spokesperson for the regulator said.
However, following a number of disposals – including the sale of 328 Plus outlets to rival Rewe – and the planned closure of 33 more stores, the merger has been approved.
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By GlobalDataThe remaining Plus stores will be transferred to the joint venture, in which Edeka will be the senior partner.
