The private equity backers of Somerfield doubled their money when they sold the supermarket chain to trade rival Co-operative Group for ã1.6bn (â¬2bn) today, in a deal whose price came in below original estimates.
The consortium of entrepreneur Robert Tchenguiz, Apax Partners and Barclays Capital made about twice their original £500m equity investment after it acquired the business for £1.8bn in 2005, according to a source close to the process.
