Hints and tips:
...cities ranging from Mexico to Seoul, it has also made big bets on companies including Middle East and Africa focused solar business Yellow Door Energy and Rezolv, which manages wind projects in central and southeastern...
...With its takeover of Southeastern Grocers, which owns Winn-Dixie and Harveys, it is moving into more conventional supermarket territory....
...Křetínský’s portfolio includes stakes in the UK’s Royal Mail, grocer J Sainsbury, and West Ham football club as well as German wholesaler Metro and US sneaker chain Foot Locker....
Private equity has minted fortunes in the sector
...In 2014, the portfolio of grocers, named Albertsons, acquired Safeway for $9.7bn, a deal it financed with nearly $8bn debt....
...However, grocers such as Kroger and Albertsons are under increasing pressure from the likes of Amazon, Walmart and Costco....
...The grocer’s board met on Saturday afternoon and unanimously recommended the revised offer....
...It’s the birthplace of a revolutionary idea that has pitted Norway’s AutoStore against online grocer Ocado in a bitter global patent fight with billions of dollars on the line....
...The 15 per cent shareholder, the grocer’s largest, is “not inclined” to support the 252p-a-share bid from a Fortress-led consortium, given there was “little” in the offer that Morrisons couldn’t manage on...
...That bid, a substantial increase from its initial 230p approach, has secured a recommendation from the grocer’s directors....
...However, Fortress would have a 73 per cent stake in the company buying the grocer, it said....
...Private equity interest in Morrisons first became public in June when the grocer said it had rejected an offer from CD&R....
...Under the new deal, Fortress would own 65 per cent of a company set up to own the grocer, with Koch owning 22 per cent and GIC 13 per cent....
...A group of three private investment groups led by SoftBank-owned Fortress agreed a £9.5bn deal to acquire the grocer this month....
...As part of the agreement, the investors set out a series of commitments including plans to keep the grocer’s headquarters in Bradford....
...Its Food Lion chain also agreed to acquire 62 BI-LO and Harveys Supermarket stores in North and South Carolina and Georgia from Southeastern Grocers, also for an undisclosed price....
...The founder’s son committed the company to low debts, high property ownership and a vertically integrated model in which the grocer produces half the fresh food it sells....
...Grocers have been clear corporate winners in the pandemic. Unlike discretionary retailers, authorities allowed them to stay open and customers flocked to them in the rush to stockpile....
...Meanwhile, Tesco’s pay report was voted down after the grocer was accused of excluding online rival Ocado from peer benchmarking, and so inflating the bonus of departing chief executive Dave Lewis....
...Supreme Court against Oracle (FT) Amazon sends legal notice to India's Future Group over Reliance deal (Reuters) Lex Letter from Seoul: Huawei and the new way (Lex) Saudi wealth fund explores investing in grocer...
...Nevertheless, the US provided five out of the 10 largest global insolvencies in terms of turnover over the first three quarters of 2018, with Southeastern Grocers, Bon-Ton stores and iHeartMedia among those...
...Association’s streaming deal puts funding at risk (FT) Citic to sell stake in McDonald’s China unit in push to cut debt (FT) JPMorgan applies to take control of its China futures business (FT) Walmart, other grocers...
...Cravath Swaine & Moore, the New York law firm, has been accused in a shareholder lawsuit of improperly helping to steer the $1.6bn leveraged buyout of US grocer, The Fresh Market, to Apollo Global Management...
...Eamonn Kevin Roche was born above a grocer’s shop on June 22 1922, six days before the formal beginning of the Irish civil war. His father (also Eamonn) was then in prison....
...A good example recently was Jana Partners engineering the $13.7bn sale of grocer Whole Foods to Amazon in 2017, earning itself $300m in gains for an investment it made only a few months earlier....
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