German retailer Tengelmann is currently locked in a renegotiation battle with Edeka and Rewe for the sale of approximately 2,900 Plus discount stores in Germany, according to Lebensmittel Zeitung.
In July, German competition authorities ordered the sale of 378 of the stores to third parties rather than to Edeka, with Rewe emerging as the most likely buyer of 328 outlets.
Rewe is reportedly set to receive €80m as compensation for acquiring this mostly weak portfolio, in addition to 12 well-placed stores originally reserved for Edeka.
Meanwhile, Edeka is now set to use the sale of these 12 stores to force down the price of the 2,500-strong portfolio, as well as declining the sale of some Plus logistics centres.
According to the paper, Edeka and Tengelmann are considering filing a joint appeal to the competition authorities over the latter’s refusal to allow the two retailers to combine some of their grocery buying activities.
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