Baugur makes a US$1,8 billion bid for Somerfield
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London/Reykjavík – The Icelandic retail and investment company Baugur is making a bid for the British supermarket chain Somerfield of £1 billion, 120 billion ISK, or US$1,8 billion. The supermarket chain has 700 Somerfield supermarkets and 500 Kwik Save discount foodstores across the United Kingdom. Baugur already owns the Iceland supermarket in the UK and Ireland, Bónus and Hagkaup supermarkets in Iceland, and other retailers in Iceland, the Faroe Islands, United Kingdom, Sweden & Denmark.
London/Reykjavík – The Icelandic retail and investment company Baugur is making a bid for the British supermarket chain Somerfield of £1 billion, 120 billion ISK, or US$1,8 billion. The supermarket chain has 700 Somerfield supermarkets and 500 Kwik Save discount foodstores across the United Kingdom. Baugur already owns the Iceland supermarket in the UK and Ireland, Bónus and Hagkaup supermarkets in Iceland, and other retailers in Iceland, the Faroe Islands, United Kingdom, Sweden & Denmark.
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Read the source: Wikinews ↗Source published 9 Feb 2005, 05:30 am IST
