Loss-making Dutch supermarket Laurus is reported to be in talks with US venture capital group Kohlberg, Kravis & Roberts (KKR) and French retail giant Casino over a possible buyout of the company from its creditor banks consortium.
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Laurus’ banking consortium includes ABN AMRO, ING and Rabobank.
The business daily Financieele Dagblad cited the potential buyers on the back of anonymous key sources, who insisted that “negotiations could go in any direction,” and that Laurus “could be sold in part or whole”. The sources did suggest that Laurus’ management would prefer an acquisition by a sector peer to a buyout.
The beleaguered supermarket and wholesale group declined to comment on the speculation earlier today [Monday], although the news prompted Laurus shares to rally by over 5% to €4.05 (US$).
The retailer, the second largest in the Dutch market behind Ahold, revealed today [Monday] that it has sold its non-core Spar supermarket chain for an undisclosed sum to a consortium including Spar management, shopkeepers and small retailer Sperwer.
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