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Dia cancels the sale of more than a thousand Clarel stores to C2 for breaching the agreement

Date: June 20, 2024 Time: 10:51:42

The DIA supermarket chain has canceled the sale of its Clarel perfumery subsidiary after its potential buyer, C2, has not executed all the agreed purchase commitments for the transfer of a total of 1,015 establishments and three distribution centers, according to sleepless. In a statement sent to the CNMV, DIA claims to be evaluating “other strategic options” for the sale of these stores.

“Regarding (…) the Beauty by DIA, SAU (Clarel) share purchase and sale agreement signed on December 22, 2022 between DIA Retail España, SAU, as seller, and C2 Private Capital, SL as buyer, The Company informs that, in accordance with the provisions of the Contract, not having fulfilled all its suspensive conditions before July 31, 2023, the Contract has been automatically terminated”, the company has sent to the CNMV.

C2 Private Capital is a Spanish holding formed by Nutrinsa Ingredients, Velvet Candels Investment and Inversiones Keblar 2013, created to carry out the acquisition of Clarel. The operation, which was subject to the approval of the competition authorities, received the go-ahead from the CNMC in May without any commitment, considering that it did not pose any problem for competition.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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