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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE CVC acquires Dutch supermarket chain Schuitema in €950m deal23/04/2008. Source: AltAssets. 
CVC Capital Partners has acquired a 73.2 per cent interest in Dutch supermarket chain Schuitema from supermarket group Ahold in a deal that values the company at €950m. As part of the transaction, Ahold will obtain a 20 per cent indirect interest in Schuitema, with no supervisory board representation.
The deal includes 58 stores, real estate and a cash amount of approximately €185m, according to a statement.
Following the transaction, the acquired stores will be converted into Albert Heijn stores.
CVC has also announced that it has appointed Lorne Somerville as partner and head of telecoms, working out of the firm's London office. Previously Somerville was joint global head of telecoms and head of the European Communications Group at UBS. Prior to that, he worked at Swisscom as head of Swisscom International. He has held several board positions in the industry including Cesky Telecom and Unisource.
A few days ago CVC closed its latest buy-out fund for Asia, CVC Capital Partners Asia Pacific III, on $4.1bn.
Copyright © 2008 AltAssets
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