Hema Chain to be sold to Belgian investor

The Dutch chain of stores, Hema, is soon to become Belgian, according to information in the Dutch newspaper, De Telegraaf, reported on Wednesday by De Standaard.
Brussels investor Core Equity Holdings is reportedly close to concluding an acquisition agreement, the Dutch newspaper reported four sources from the financial and distribution sectors as confirming. An oral accord on the broad lines of the operation have been reached, according to two of the sources. The actual signature should occur in the next few weeks, the other sources said.

For Hema, which is heavily indebted, the takeover by a Belgian investor could end an unhappy marriage with current owner Lion Capital. The British company bought Hema (Hollandsche Eenheidsprijzen Maatschappij Amsterdam) for 1.1 billion euros in 2007 and has failed thus far to find an acquirer for it

Both Hema and the Belgian camp have refused to answer questions on the reported purchase.

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