The privately held Tengelmann Group and its North Rhine-Westphalia-based subsidiary HH Holding are set to take over the 162 stores of insolvent department store chain Woolworth, administrator Ottmar Hermann announced last week. The sale comes just over a year after the Woolworth group filed for administration in early 2009. The financial details of the transaction were not disclosed.
Ares, Coima and MEAG are three investors which have closed multiple acquisitions in the last few weeks.
