Australia
Coles Myer is considering merging its supermarket chain Coles with its discount supermarket format Bi Lo as part of its five-year strategy. A company spokesman said: "We're currently in the throes of developing our next five-year strategy and that will take us from turnaround to growth. As part of the process we're looking at a wide range of options, but at this stage no decision has been made." Analysts said a merger would be a good move for the companies because their back-office functions had already been integrated and the formats had a similar offer.
South Africa
Supermarket group Pick 'n Pay has acquired fresh produce retailer Fruit & Veg City for an undisclosed sum. The deal, which includes Fruit & Veg City's 86 stores, is subject to the completion of a due diligence review and approval from the competition authorities. Sean Summers, chief executive officer of Pick 'n Pay, said: "We are obviously very pleased at the potential of this acquisition, both in terms of its current performance and future growth. We see this as a particularly good opportunity to enhance our current franchise options."
South Korea
Danish brewer Carlsberg has sold its remaining 13.1% stake in Hite Brewery, the South Korean brewer, for DKK1.3bn (E1.75bn). Carlsberg initially invested in Hite in 1999, holding a 25% stake. However, last December it sold 11.9% of its stake for DKK1.9bn to reduce its group debt. The brewer said: "This divesture is consistent with Carlsberg's commitment to free up invested capital from minority positions where there is no clear path to control."
United States
Grocery retailer Marsh Supermarkets has opposed an unsolicited bid from investment group Drawbridge Special Opportunities Advisors and Cardinal Paragon for $13.625 a share. The grocer, which has already agreed to be acquired by private equity firm Sun Capital Partners for $11.125 a share, said it opposed the offer because of uncertainty surrounding the bid.
United States
Luxury goods firm LVMH, which makes Fendi-branded handbags, wallets and key chains, has accused retail giant Wal-Mart of selling fake Fendi products in its US warehouse chain Sam's Club. The group is seeking damages from Wal-Mart and has asked for the fake goods to be destroyed. LVMH has claimed that a Sam's Club store in Las Vegas is selling one of its handbags for $295.03, compared with a recommended retail price of $925. Wal-Mart has not commented on the case.
Uzbekistan
Brewer Baltic Beverage Holdings, a joint venture between Carlsberg and Scottish & Newcastle, is investing E50m in a new brewery in Tashkent, Uzbekistan. BBH said that the brewery would be operational by the spring of 2007 and would have an initial capacity of one million hectolitres per year. "BBH believes the domestic beer market has the potential to grow strongly in the future," it added.
Coles Myer is considering merging its supermarket chain Coles with its discount supermarket format Bi Lo as part of its five-year strategy. A company spokesman said: "We're currently in the throes of developing our next five-year strategy and that will take us from turnaround to growth. As part of the process we're looking at a wide range of options, but at this stage no decision has been made." Analysts said a merger would be a good move for the companies because their back-office functions had already been integrated and the formats had a similar offer.
South Africa
Supermarket group Pick 'n Pay has acquired fresh produce retailer Fruit & Veg City for an undisclosed sum. The deal, which includes Fruit & Veg City's 86 stores, is subject to the completion of a due diligence review and approval from the competition authorities. Sean Summers, chief executive officer of Pick 'n Pay, said: "We are obviously very pleased at the potential of this acquisition, both in terms of its current performance and future growth. We see this as a particularly good opportunity to enhance our current franchise options."
South Korea
Danish brewer Carlsberg has sold its remaining 13.1% stake in Hite Brewery, the South Korean brewer, for DKK1.3bn (E1.75bn). Carlsberg initially invested in Hite in 1999, holding a 25% stake. However, last December it sold 11.9% of its stake for DKK1.9bn to reduce its group debt. The brewer said: "This divesture is consistent with Carlsberg's commitment to free up invested capital from minority positions where there is no clear path to control."
United States
Grocery retailer Marsh Supermarkets has opposed an unsolicited bid from investment group Drawbridge Special Opportunities Advisors and Cardinal Paragon for $13.625 a share. The grocer, which has already agreed to be acquired by private equity firm Sun Capital Partners for $11.125 a share, said it opposed the offer because of uncertainty surrounding the bid.
United States
Luxury goods firm LVMH, which makes Fendi-branded handbags, wallets and key chains, has accused retail giant Wal-Mart of selling fake Fendi products in its US warehouse chain Sam's Club. The group is seeking damages from Wal-Mart and has asked for the fake goods to be destroyed. LVMH has claimed that a Sam's Club store in Las Vegas is selling one of its handbags for $295.03, compared with a recommended retail price of $925. Wal-Mart has not commented on the case.
Uzbekistan
Brewer Baltic Beverage Holdings, a joint venture between Carlsberg and Scottish & Newcastle, is investing E50m in a new brewery in Tashkent, Uzbekistan. BBH said that the brewery would be operational by the spring of 2007 and would have an initial capacity of one million hectolitres per year. "BBH believes the domestic beer market has the potential to grow strongly in the future," it added.
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