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Baugur makes a US$1,8 billion bid for Somerfield

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Wednesday, February 9, 2005

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.

Sources

[edit]
  • Somerfield in £1bn takeover bid — BBC News, February 9, 2005
  • Baugur íhugar að kaupa Somerfield — RUV, February 9, 2005 (in Icelandic)


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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.

The text of this article is licensed under the terms of the Creative Commons Attribution 2.5 License
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