The £1.1 billion takeover of the Somerfield group has been formally completed.

The group’s share have now been taken off the London Stock Exchange and ownership transferred to the private equity consortium led by property tycoon Robert Tchenguiz and including Apax Partners and Barclays Capital.

It has promised to invest heavily in the UK's fifth-largest grocer.

The move ends the long running saga which began back in April 2003, when a number of potential suitors made approaches to the business.

Somerfield, which also includes the Kwik Save brand, has more than 1,300 stores throughout the UK.

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