Delhaize Group Obtains Approval to Squeeze-Out Minority Shareholders of its Greek Subsidiary Alfa Beta
(Thomson Reuters ONE) -
BRUSSELS, Belgium - July 15, 2010 - Delhaize Group (Euronext Brussels: DELB -
NYSE: DEG), the Belgian international food retailer, announced today that its
wholly-owned subsidiary Delhaize "The Lion" Nederland B.V. (Delned) has received
the approval of the Hellenic Capital Market Commission to squeeze-out the
minority shareholders of its Greek subsidiary Alfa Beta Vassilopoulos S.A. at a
price of EUR 35.73 per common registered share.
On July 8, 2010, the Hellenic Capital Market Commission (CMC) approved the
squeeze-out of the minority shareholders in Alfa Beta Vassilopoulos S.A. (Alfa
Beta) at EUR 35.73 per share by Delhaize Group's wholly owned subsidiary
Delhaize "The Lion" Nederland B.V. (Delned). The last date of trading of Alfa
Beta' shares is fixed at the 30(th) of July 2010 and settlement is planned for
August 9, 2010. Today, Delhaize Group owns through Delned approximately 90.87%
of the total shares of Alfa Beta. Upon reaching 95% of the voting rights in Alfa
Beta, Delned intends to initiate the process to delist Alfa Beta from the Athens
Exchange.
On March 12, 2010, Delned launched a voluntary public offering for all
outstanding shares in Alfa Beta not held by it at EUR 35.73 per share in cash.
The information circular was approved by the CMC on April 8, 2010. On June
4, 2010, Delned requested the CMC's approval for the squeeze-out which was
obtained on July 8, 2010, as Delned holds more than 90% of the total voting
rights in Alfa Beta.
The results of Alfa Beta will be fully consolidated without minorities in
Delhaize Group's results as from August 2010.
Please consult the website of the Athens Exchange (www.athex.gr) for formal
announcements of Delned and Alfa Beta regarding this voluntary public offering
and squeeze-out.
Alfa Beta is a Greek food retail company which was established in 1969. At the
end of the first quarter of 2010, Alfa Beta's sales network consisted of 218
stores (of which 169 company-operated, 39 affiliated stores and 10
Cash-and-Carry stores). In 2009, Alfa Beta's consolidated revenues amounted to
EUR 1 471 million and its consolidated operating profit to EUR 59 million. At
the end of 2009, Alfa Beta employed approximately 9 500 people. Until its
delisting, Alfa Beta will still be listed on the Athens Exchange (BASIK), where
it is listed since 1990. Delhaize Group acquired approximately 51% of the
capital of Alfa Beta in 1992. Today, Delhaize Group owns through its
wholly-owned subsidiary Delned approximately 90.87% of the total shares of Alfa
Beta.
Delhaize Group is a Belgian food retailer present in six countries on three
continents. At the end of the first quarter of 2010, Delhaize Group's sales
network consisted of 2 725 stores. In 2009, Delhaize Group posted EUR 19.9
billion (USD 27.8 billion) in revenues and EUR 514 million (USD 717 million) in
net profit (Group share). At the end of 2009, Delhaize Group employed
approximately 138 000 people. Delhaize Group's stock is listed on Euronext
Brussels (DELB) and the New York Stock Exchange (DEG).
This press release is available in English, French and Dutch. You can also find
it on the website http://www.delhaizegroup.com. Questions can be sent to
investor(at)delhaizegroup.com.
» Contacts
Guy Elewaut: + 32 2 412 29 48
Geert Verellen: + 32 2 412 83 62
Aurélie Bultynck: + 32 2 412 83 61
Amy Shue (U.S. investors): +1 704 633 8250 (ext.2529)
Barbera Hoppenbrouwers (media): + 32 2 412 86 69
cautionary note regarding forward looking statements
Statements that are included or incorporated by reference in this press release
and other written and oral statements made from time to time by Delhaize Group
and its representatives, other than statements of historical fact, which address
activities, events and developments that Delhaize Group expects or anticipates
will or may occur in the future, including, without limitation, statements about
strategic options, future strategies and the anticipated benefits of these
strategies, and the squeeze-out of the minority shareholders in Alfa-Beta
discussed herein, are "forward-looking statements" within the meaning of the
U.S. federal securities laws that are subject to risks and uncertainties. These
forward-looking statements generally can be identified as statements that
include phrases such as "projected", "may", "expect", "anticipate", "intend",
"plan", "will" or other similar words or phrases. Although such statements are
based on current information, actual outcomes and results may differ materially
from those projected depending upon a variety of factors, including, but not
limited to, changes in legislation or regulation, the general economy or the
markets of Delhaize Group, in consumer spending, in inflation or currency
exchange rates ; competitive factors; adverse determination with respect to
claims; inability to timely develop, remodel, integrate or convert stores; and
supply or quality control problems with vendors. In particular there can be no
assurance as to the consummation or timing of the squeeze-out or the realization
of any synergies. Additional risks and uncertainties that could cause actual
results to differ materially from those stated or implied by such
forward-looking statements are described in Delhaize Group's most recent Annual
Report on Form 20-F and other filings made by Delhaize Group with the U.S.
Securities and Exchange Commission, which risk factors are incorporated herein
by reference. Delhaize Group disclaims any obligation to update developments of
these risk factors or to announce publicly any revision to any of the
forward-looking statements contained in this release, or to make corrections to
reflect future events or developments.
[HUG#1431714]
Press release in pdf format: http://hugin.info/133961/R/1431714/378013.pdf
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Delhaize Group via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 15.07.2010 - 08:46 Uhr
Sprache: Deutsch
News-ID 23949
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