Ahold 'having doubts' about Hema takeover
Sources have told the Dutch financial newspaper Het Financieele Dagblad that super market giant Ahold is having doubts about whether it should go ahead with it attempts to takeover department store chain Hema.
Hema, originally a Dutch company, today has 500 stores in the Netherlands, Belgium, Luxembourg, France and Germany.
Nine weeks after Hema owner Lion Capital announced its plans to sell the department store chain, Ahold is the last potential buyer. Despite initial strong interest, nearly all interested parties have since withdrawn. The last two to pull out where British private equity firms CVC and BC Partners. The two potential buyers eventually decided the asking price was too high.
Experts say that the asking price is probably 1,5 billion euros, about 11 times Hema's gross annual turnover. The chain's potential for growth is generally considered too low to justify the asking price.
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