NEW YORK Jan 4 Private equity firm Cerberus
Capital Management LP and its partners are nearing a deal to buy
parts of Supervalu Inc, the Wall Street Journal reported
on Friday, sending shares of the grocery chain up 15 percent.
Cerberus and its partners will buy some assets of the
company and take a stake in the remainder, which is expected to
remain public, the newspaper said, citing a person with
knowledge of the plan.
Cerberus would contribute around $500 million in equity,
several hundred million less than initially discussed, the
Journal said. A deal could be announced as soon as next week but
could still fall through, the newspaper added.
Shares of Supervalu rose 39 cents to $2.98 on the New York
A Supervalu spokesman said on Friday the company's review of
strategic alternatives was proceeding and that it was in "active
discussions with several parties." He declined to comment
Cerberus did not respond to requests for comment.