The battle for Somerfield has taken another twist with the United Co-operatives the latest suitor to express an interest in the UK's fifth biggest grocer.
United Co-operatives move follows interest from two consortiums in Somerfield. Property tycoon Robert Tchenguiz, Icelandic investors Baugur and private equity giant Apax make up one team, while the other comprises developers Ian and Richard Livingstone working with investment bank Nomura and Legal & General is the other potential suitor. Asda is also understood to be running a slide rule over Somerfield.
In a statement, United Co-operatives said it 'has made an approach to the Board of Somerfield with a view to exploring the possibility of making an offer for Somerfield. There can be no certainty that an offer will be made. A further announcement will be made in due course.'
United Co-operatives generated trading profits of£50 million on sales of£1.9 billion for the year to January 22, 2005. It has 509 food stores
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