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Private equity consortium to sell UK supermarket chain Somerfield for £1.6bn16/07/2008. Source: AltAssets. 
 Violet Acquisitions, an acquisition vehicle formed by Apax Partners, Barclays Capital, Kaupthing and the Tchenguiz Family Trust have agreed to sell UK supermarket chain Somerfield to the Co-Operative Group for £1.565bn. The sale generated a return of approximately two times, according to a source close to the deal.
The consortium acquired Somerfield in December 2005, for £1.8bn.
Somerfield has approximately 880 stores across the UK. In the year ending 26 April 2008, the company had sales of £4.2bn.
In June of this year, Apax, alongside Madison Dearborn Partners and TA Associates acquired a ten per cent stake in telecommunications company Weather Investments for €1.1bn.
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