Dutch chain Hema to be sold to Belgian investor

The Dutch high-street retailer, Hema, may soon become Belgian owned.

Four sources from the financial and distribution sectors are confirming that Brussels investor Core Equity Holdings are concluding an acquisition agreement between them and the Dutch company.

An oral accord on the broad lines of the operation has supposedly been reached, with reports that the signing should occur in the next few weeks.

The takeover by a Belgian investor could end the relationship with current owner Lion Capital, benefiting the heavily indebted Hema.

The British company bought Hema for in 2007 for 1.1 billion euros and has failed thus far to find an acquirer for it. Both parties have declined to answer questions regarding the purchase.