Delhaize Group : Delhaize Group announces agreement on sale of Maxi, Mini Maxi
and Tempo stores in Montenegro
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
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 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
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information contained therein.
Source: Delhaize Group via Thomson Reuters ONE
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