The European Commission has granted clearance under the EU Merger Regulation to the acquisition of joint control of UK supermarket chain Somerfield plc UK by Apax Europe VI of Guernsey, the Channel Islands, Barclays Bank plc of the UK and Tchenguiz Family Trust.
Apax is a pan-European investment fund making investments in a range of industry sectors. It is comprised of two limited partnerships constituted in England. The general partner of both of these partnerships is a Guernsey-based limited company, which is wholly owned by the Hirzell Trust, an independent trust constituted under the laws of Guernsey.
Barclays is a global financial services provider and operates in over 60 countries on a worldwide basis.
TFT is a discretionary trust which is primarily active in the financial and investment sector, predominantly in the real estate, bars and public houses sectors, through subsidiaries known as the Rotch group.
Somerfield is primarily active in the grocery retail sector in the UK. The operation was examined under the simplified merger review procedure.