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November 2, 2011

NETHERLANDS: “Multiple bids” for retailer C1000

Several private-equity firms and trade buyers have reportedly submitted first-round bids for Dutch supermarket chain C1000.

Several private-equity firms and trade buyers have reportedly submitted first-round bids for Dutch supermarket chain C1000.

Dow Jones quoted people familiar with the situation who said BC Partners and Bain Capital were among the firms that put in bids for the business.

Rival Dutch retailers Plus and Sligro Food Group have also expressed an interest in all or part of the business.

The sources added that Ahold is also likely to have considered buying some stores, as it is prevented from bidding for the whole company because of competition concerns.

Jumbo Group Holding, which has a market share of 5.5% in the Netherlands, may also have submitted a bid, but is still integrating Super de Boer, which it bought in 2009 from France’s Casino Guichard-Perrachon.

C1000, the second largest chain in the region with 400 stores, is owned by private-equity firm CVC Capital Partners and has been valued at EUR1bn (US$1.3bn).

CVC Capital was not available for comment at time of writing.

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