Delhaize Group Reaches an Agreement with Rewe for the Sale of its
German Operations>
Delhaize Group Reaches an Agreement with Rewe for the Sale of its German Operations
(Thomson Reuters ONE) - BRUSSELS, Belgium, July 14, 2009 - Delhaize Group (Euronext Brussels:DELB - NYSE: DEG), the Belgian international food retailer, announcedtoday that it has entered into an agreement with the German retailgroup Rewe for the sale of its four stores operated in Germany. InDecember 2008, Delhaize Group decided to start the divestitureprocess of its four German stores, which now has been concludedsuccessfully with an agreement to sell these activities to Rewe.Michel Eeckhout, Chief Executive Officer of Delhaize Belgium,commented: "Despite the continued revenue growth of the last years,we decided in December of last year to sell our non-strategic Germanactivities after an evaluation of our portfolio. Today, we canannounce that we have reached an agreement with Rewe, which ensurescontinuity and opportunities for our customers and our associates inthe German market. We want to especially thank all our colleaguesfrom Delhaize Germany for their dedication and commitment over thepast years. Together we have learned a lot from our experience inGermany. We wish them all the best for future success in their newcorporate environment."The divestiture of the four German stores is subject to the customaryconditions, including the approval by the German antitrustauthorities. The transaction is expected to close in the thirdquarter of 2009 and at that time a capital gain will be recognized.Delhaize Group entered the German market as a test in 2003. In 2008,Delhaize Germany recorded EUR 19.5 million in revenues and a smalloperating loss. Due to the decision to divest, the results of theGerman business have been reported as results from discontinuedoperations in the 2008 financial statements of Delhaize Group.» Delhaize GroupDelhaize Group is a Belgian food retailer present in seven countrieson three continents. At the end of the first quarter of 2009,Delhaize Group's sales network consisted of 2 670 stores. In 2008,Delhaize Group posted EUR 19 billion (USD 28 billion) in revenues andEUR 467 million (USD 687 million) in net profit (Group share). At theend of 2008, Delhaize Group employed approximately 141 000 people.Delhaize Group's stock is listed on Euronext Brussels (DELB) and theNew York Stock Exchange (DEG).This press release is available in English, French and Dutch. You canalso find it on the website http://www.delhaizegroup.com. Questionscan be sent to investor(at)delhaizegroup.com.» ContactsGuy Elewaut: + 32 2 412 29 48 AmyShue (U.S. investors): +1 704 633 82 50 (ext. 2529)Geert Verellen: + 32 2 412 83 62 Barbera Hoppenbrouwers(media): + 32 2 412 86 69Aurélie Bultynck: + 32 2 412 83 61 cautionary note regarding forward looking statementsStatements that are included or incorporated by reference in thispress release and other written and oral statements made from time totime by Delhaize Group and its representatives, other than statementsof historical fact, which address activities, events and developmentsthat Delhaize Group expects or anticipates will or may occur in thefuture, including, without limitation, statements about strategicoptions, future strategies and the anticipated benefits of thesestrategies, are "forward-looking statements" within the meaning ofthe U.S. federal securities laws that are subject to risks anduncertainties. These forward-looking statements generally can beidentified 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 othersimilar words or phrases. Although such statements are based oncurrent information, actual outcomes and results may differmaterially from those projected depending upon a variety of factors,including, but not limited to, changes in the general economy or themarkets of Delhaize Group, in consumer spending, in inflation orcurrency exchange rates or in legislation or regulation; competitivefactors; adverse determination with respect to claims; inability totimely develop, remodel, integrate or convert stores; and supply orquality control problems with vendors. Additional risks anduncertainties that could cause actual results to differ materiallyfrom those stated or implied by such forward-looking statements aredescribed in Delhaize Group's most recent Annual Report on Form 20-Fand other filings made by Delhaize Group with the U.S. Securities andExchange Commission, which risk factors are incorporated herein byreference. Delhaize Group disclaims any obligation to updatedevelopments of these risk factors or to announce publicly anyrevision to any of the forward-looking statements contained in thisrelease, or to make corrections to reflect future events ordevelopments.http://hugin.info/133961/R/1328551/313294.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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