The German supermarket chain Edeka relinquished its 25 percent minority stake to the Danish discounter Netto Stavenhagen. The shares were purchased by the Dansk-supermarket group, who already hold the remainder of shares, on the 31st of December.
The Dansk supermarket belongs to the logistics and energy group A.P. Møller-Maersk, which is the largest company in Denmark. "We are directing our strategic focus on independent retailers and businesses where we have corporate responsibility," says Markus Mosa, the director of Edeka, as to the reason for the sale of shares.
Netto Stavenhagen, with around 350 branches and 4000 employees, are primarily situated in the north-east of Germany. Despite having a similar name, the business is not connected with the more than 4000 branches of the Edeka subsidiary, Netto Marken-Discount.
