GERMANY – Cerberus looks to back SBO of Woolworth from Electra
Cerberus has filed for regulatory approval to acquire 64% of German department store chain DWW Deutsche Woolworth GmbH&Co OHG from Electra Private Equity Plc for an undisclosed sum. The deal encompasses 100 department stores in Germany, and Cerberus is also considering buying the stores' operating business. Electra bought the chain in 1998. Deutsche Woolworth operates a total of 330 outlets in Germany and Austria, of which a quarter are unprofitable.
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