Retailer Spar has new shareholders - Food Retailing - Carlson Capital and Cross Asset Management own minority stakes in Spar Handels - Brief Article

Eurofood, Dec 6, 2001

Food retail group Spar Handels has a new major shareholder, according to a report from Lebensmittel Zeitung. US investment firm Carlson Capital and Cross Asset Management of the UK own 10.27% of voting rights at Spar following a pooling agreement.

Reasons behind the new investors are unknown and has sparked much debate about Spar's future. Some industry experts say the new investors view Spar as a company with potential.

Others are speculating that if the current restructuring proves successful, Spar's French owners ITM Entreprises would want to take Spar off the stock market, and to do that, ITM would have to make a severance offer Carlson Capital and Cross Asset Management.

Another option would be that following successful restructuring, ITM may withdraw from Germany, and opt to sell Spar, again leaving the new shareholders with profit.