Rewe takes control of Adeg

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Rewe takes control of Adeg
German retail giant Rewe has become the majority shareholder in Austrian retail co-operative Adeg. Rewe said that it had upped its stake in the business from 24.9% to 75% after buying shares from German rival Edeka and members of the Adeg co-operative.

The transaction is subject to the approval of EU regulators but Rewe said the move would ensure the "successful rehabilitation" of Adeg, which, it added, is in a "difficult economic situation". Rewe's Austrian arm, which also includes stores under the Billa banner, is the country's largest grocery business.

(Source: Just Food)

Related article:
ADEG to acquire Edeka Austria

Related links:
ADEG [German]
Billa [German]
Published 25-12-2007 (19:47) by Karen Willoughby

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