SuperValu Moving Toward Sale to Cerberus: Business Roundup

SuperValu Could Sell Two Chains to Cerberus Soon

After talks of a full takeover stalled a couple weeks ago, SuperValu is now moving toward a deal to sell retail chains such as Albertsons and Save-A-Lot to Cerberus Capital Management LP.

According to Bloomberg Business, people close to the negotiations said Save-A-Lot has also received interest from parties such as private-equity firm KKR & Co.

Albertsons and Save-A-Lot are SuperValu's two largest chains. Selling the chains would give the company cash to pay down some of its more than $6 billion in debt and allow the company to focus on what to do with its nine other chains, the article said.

Cerberus aims to finalize some sort of deal by the end of the year. Eden Prairie Patch will update readers as more information becomes available.

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