Delhaize Group announces agreement on sale of Maxi, Mini Maxi and Tempo stores
BRUSSELS, BELGIUM -- (Marketwired) -- 07/11/13 -- 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 EUR50 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
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 EUR22.6
billion ($29.0 billion) in
revenues and EUR104 million ($134 million) in net profit (Group
share). At the end of 2012, Delhaize Group employed
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cautionary note regarding forward looking statements
Statements that are included or incorporated by reference in this
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
options, future strategies and the anticipated benefits
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,"
"projected," "believe," "target," "predict," "estimate,"
"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
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
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
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
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Source: Delhaize Group via Thomson Reuters ONE
+ 32 2 412 2151
Media Relations - Group:
+ 32 2 412 8669
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