Somerfield, the UK retailer, has today (1 February) insisted that its financial advisers remain in the process of studying initial approaches for the company – amid talk that formal bids will emerge in two weeks.
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Last month, the company’s owners, Apax Partners, Barclays Capital and property tycoon Robert Tchenguiz, appointed Citigroup to weigh up any offers for the business.
Several unnamed parties have indicated they would be interested in buying the convenience store chain, which runs over 900 stores in the UK. Rival retailers Morrisons, the Co-op and Asda have been touted as potential buyers.
A spokesman for Somerfield said Citigroup remained in the throes of evaluating the level of interest in the company. “There have been several expressions of interest and Citigroup is continuing to explore those,” he told just-food.
An Asda spokesperson refused to be drawn on whether the company had any interest in Somerfield. “We can’t comment on market speculation,” she said. A spokesman for the Co-op was also tight-lipped.
Officials at Morrisons could not be reached for immediate comment.
Apax Partners, Barclays Capital Tchenguiz bought the UK’s fifth-largest grocer for GBP1.8bn (US$3.5bn) two years ago.
