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Cerberus To Buy Supervalu Brands

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Updated January 10, at 10:56 a.m.

Zacks Equity Research reports that Cerberus Capital Management finally agreed to buy parts of Supervalu supermarket holdings for $500 million in equity. Cerberus was reportedly willing to pay $900 million for the whole company, but its lenders did not agree on the valuation for the struggling supermarket operator.

Supervalu will sell its Save-A-Lot division separately, Zacks reports.

Here's more information on the financial aspects of a Supervalu acquisition from SeekingAlpha.com.

Update:

It's official. In a deal valued at $3.3 billion, Cerberus will acquire Supervalu's Albertsons, Acme, Shaw and Jewell-Osco brands, reports The Chicago Tribune.

The sale will be completed through Cerberus affiliate AB Acquisition, with other investors including Kimco Realty Corp., Klaff Realty, Lubert-Adler Partners and Schottenstein Real Estate Group. The price will be paid through $3.2 billion in debt and $100 million in cash.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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