December 7, 2016 / 10:39 AM / 8 months ago

BRIEF-Cerberus Capital to acquire Staples' European business

Dec 7 (Reuters) - Staples Inc :

* Cerberus capital management to acquire Staples' European business

* Staples is retaining a 15 percent equity interest in business

* Staples - upon closing of transaction, Staples Europe business will be separated into a privately-held company controlled by an affiliate of Cerberus

* Company will operate under Staples banner name and other sub-brands in European markets

* Europe business will be separated into privately-held company controlled by affiliate of cerberus

* Says new company will enter into a licensing agreement with Staples for use of certain staples intellectual property

* Cerberus Capital Management to acquire Staples' European business

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