Hints and tips:
...Mr Reid, who was previously deputy chairman at Tesco before chairing the retailer, also heads the board of Kwik-Fit....
...In spite of Fortis’s problems, last July its UK arm struck a deal with Tesco to handle £500m in annualised gross written premiums covering motor and household insurance sold under the banner of the supermarket...
...The big supermarket chains decided they were interested in pockets of stores rather than the entire 880-strong estate....
...Asda, Kwik Save, Budgens, Spar and Safeway followed. By the millennium, Tesco had 140 all-night outlets....
...The consortium’s interest is led by Donald Mackenzie, a founder of CVC Capital, the private equity firm that has forged its reputation based on lucrative retail deals including Debenhams, Halfords and Kwik-Fit...
...Only a year ago, most of Britain’s supermarket bosses looked and sounded utterly despondent. On Wednesday, their baskets were overflowing....
...Mr Black added: “The independents and the likes of Kwik Save are leaking share....
...J Sainsbury is selling £2bn-worth of bonds secured on its supermarkets to fund pension contributions, buy back existing debt and cut interest payments....
...Somerfield, the UK’s fifth largest supermarket, said on Wednesday that takeover talks had reached an advanced stage but that there still was no certainty of an offer as full year pre-tax profits rose 63...
...Somerfield, the supermarket group at the centre of a possible bid battle, stressed that there was no guarantee of a bid as it unveiled mixed results Wednesday....
...The decision ends Baugur's efforts to launch its own bid and makes it less likely that there will be an auction for Somerfield, owner of Britain's fifth-biggest supermarket group, which includes Kwik Save...
...However it is understood that the relative size of the two companies coupled with problems suffered by rival supermarket group Wm Morrison’s gave the group cold feet....
...Baugur has a plausible case since it is also buying the UK's Iceland supermarket chain....
...The hot money was flowing back into Somerfield, the supermarket chain in London on Friday....
...Somerfield, the supermarket group that also owns Kwik Save, is paying £115m for 109 leasehold and five freehold Safeway stores....
...His business came to the attention of Kwik-Fit, then being run by Sir Tom Farmer....
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