WASHINGTON (dpa-AFX) - Cerberus Capital Management LP and its partners are nearing an agreement to acquire some assets of grocery retailer Supervalu Inc. (SVU) and take a stake in the remainder, which is expected to remain public, the Wall Street Journal reported on Friday, citing people familiar with the matter.
The Journal said that Cerberus would contribute around $500 million in equity, several hundred million less than initially discussed. A deal could be announced as soon as next week, the paper said citing the person, who added that terms weren't final and a deal could still fall through.
Supervalu revealed in early July a review of strategic alternatives, including a sale of the company.
SVU is currently trading at $3.13, up $0.54 or 20.85%.
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