France Clears Altarea's $142M Bid For E-Retailer

Law360, New York (December 6, 2011, 2:17 PM EST) -- The French competition watchdog on Monday approved real estate investment company Altarea Cogedim's proposed €100 million ($142 million) offer for private equity firm Apax Partners LLP's stake in Rue du Commerce SA, a French online retailer.

The emergence of Web-to-store shopping, which more closely ties e-commerce assets to bricks-and-mortar stores, had raised concerns that Altarea, with one of France's biggest mall portfolios, would gain an unfair advantage from the buy.

“However, in view of the low market share detained by both companies on their respective markets,...
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