Minister Set To Give Approval To Edeka-Tengelmann Deal
German economics minister Sigmar Gabriel looks set to give his ministerial approval for the takeover of Tengelmann's Kaiser's stores to Edeka, according to Lebensmittel Zeitung.
It is anticipated that Gabriel will give the green light for the deal today (12 January), marking the next chapter in a saga that has run since late 2014.
Tengelmann has sought to offload its Kaiser's business to Edeka since October 2014, however the deal had been rejected by local competition authorities, and met with opposition from rival grocers.
Following Minister Gabriel's announcement, it is expected that Tengelmann and Edeka will be able to proceed with the deal, provided certain conditions are met, Lebensmittel Zeitung reported.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here