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Last Updated: Sunday, 19 December, 2004, 18:28 GMT
Baugur buys UK's Big Food Group
Shoppers in London
Baugur has been steadily making acquisitions in the UK
Investors led by Icelandic group Baugur have confirmed a 326m ($635.1m) cash takeover of Britain's Big Food Group.

The group said it would sell on the Iceland supermarket chain to a separate entity owned by investors such as Icelandic lender Kaupthing Bank.

Big Food Group's remaining assets would include Booker cash-and-carry outlets and Woodward Foodservice.

Recent Baugur acquisitions include jewellery chain Goldsmiths and fashion chains Karen Millen and Mk One.

Baugur is Iceland's biggest retailer and has been steadily extending its presence on the UK High Street.

It holds stakes in department store group House of Fraser and supermarket chain Somerfield.

In the latest deal Big Food shareholders will get 95 pence a share in cash from the Baugur consortium.




SEE ALSO:
Icelandic firm buys fashion chain
11 Nov 04 |  Business
Big Food reveals mystery suitor
17 Sep 04 |  Business
Icelandic firm buys Karen Millen
25 Jun 04 |  Business
Baugur takes Somerfield stake
20 Dec 02 |  Business


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