Announced
Financials
Sources
Tags
Apparel Retailers
Netherlands
Single Bidder
Majority
Private
Cross Border
department stores
Friendly
Acquisition
Pending
Private Equity
Synopsis
Group of creditors, ING Bank, Credit Suisse, The Carlyle Group and ABN AMRO, agreed to acquire Hema, a Dutch variety store-chain. Some $506m of the retail chain's debt will be converted into shares and the group of creditors will thus become the full owner of the company. "Today's agreement represents the next step in our journey to bring back Hema to financial stability and is therefore a critical step to secure the future of Hema," Tjeerd Jegen, Hema CEO.
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