Delhaize Group announces agreement on sale of Maxi, Mini Maxi and Tempo stores in Montenegro
(Thomson Reuters ONE) -
BRUSSELS, Belgium, July 11, 2013 - Delhaize Group (Euronext Brussels: DELB,
NYSE: DEG), the Belgian international food retailer, announces that it has
reached an agreement with Expo Commerce ("Expo") on the divestiture of 25 Maxi,
Mini Maxi, and Tempo stores in Montenegro.
Delhaize Group announces that it has signed an agreement with Expo to sell all
25 Maxi, Mini Maxi, and Tempo stores it operates in Montenegro. In 2012, these
stores generated revenues of approximately ?50 million. Expo is a distributor
of major branded fast-moving consumer goods. Delhaize and Expo will enter into a
franchise agreement maintaining the Maxi, Mini Maxi and Tempo names.
The transaction is expected to close in the fourth quarter of 2013 and is
subject to regulatory approval as well as customary closing conditions and
working capital adjustments. Bank of America Merrill Lynch acted as exclusive
financial advisor to Delhaize Group for this transaction.
» Delhaize Group
Delhaize Group is a Belgian international food retailer present in ten countries
on three continents. At the end of the first quarter of 2013, Delhaize Group's
sales network consisted of 3,411 stores. In 2012, Delhaize Group posted ?22.6
billion ($29.0 billion) in revenues and ?104 million ($134 million) in net
profit (Group share). At the end of 2012, Delhaize Group employed approximately
158,000 people.
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
Investor Relations: + 32 2 412 2151
Media Relations - Group: + 32 2 412 8669
Media Relations - Serbia: +381 65 3495 113
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, when the sale of
Maxi, Mini Maxi, and Tempo stores in Montenegro to Expo is expected to be
completed; the financial flexibility that will result from the sale; the
ultimate value of the transaction to Delhaize Group after working capital
adjustments, strategic options, future strategies and the anticipated benefits
of these strategies and operating profit guidance, 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 "guidance,"
"outlook," "projected," "believe," "target," "predict," "estimate," "forecast,"
"strategy," "may," "goal," "expect," "anticipate," "intend," "plan," "foresee,"
"likely," "will," "should" 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, conditions to closing the sale of Maxi, Mini
Maxi, and Tempo stores in Montenegro to Expo, including regulatory approvals;
changes in the general economy or the markets of Delhaize Group, in strategy, in
consumer spending, in inflation or currency exchange rates or in legislation or
regulation; competitive factors; and supply or quality control problems with
vendors. 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.
Press release in pdf format:
http://hugin.info/133961/R/1715695/570201.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(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
[HUG#1715695]
Unternehmensinformation / Kurzprofil:
Datum: 11.07.2013 - 08:28 Uhr
Sprache: Deutsch
News-ID 277437
Anzahl Zeichen: 5418
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Town:
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Kategorie:
Business News
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