DIA announces that Clarel will not sell, will have its own structure


DIA store in Las Rozas, near Madrid, on December 16, 2014. Photo from December 16, 2014. REUTERS / Sergio Pérez

(Reuters) – The Spanish supermarket chain DIA announced on Friday that it will continue to have the Clarel beauty and home products brand, for which it has created an independent business unit.

Clarel, along with DIA's cash and carry business (Max Discount), was included in a divestment plan designed to try to get DIA out of the ghost of bankruptcy while renegotiating its refinancing.

DIA, controlled by the Letterone fund of Russian tycoon Mikhail Fridman, managed to close its refinancing in July.

The beauty and home products brand will work in its own structure and will be managed by Paul Berg, as CEO.

Information of Laura Hijón; Editing by Emma Pinedo

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