Belgian investor Core Equity has dropped its interest in a takeover of Hema, one of the largest retail chains in the Netherlands, the De Telegraaf newspaper reported on Wednesday.
Owner Lion Capital and Core Equity had reportedly agreed on a 1 billion euros ($1.17 billion) price tag for Hema, including debt.
But the deal collapsed over disagreement between the prospective buyer and store franchise operators over how to split revenue from Hema’s online store, sources close to the talks told the newspaper.
A spokesman for Hema declined to comment on the report. Core Equity could not be reached for immediate comment.