BRUSSELS, BELGIUM, Jul 15 (MARKET WIRE) —
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 firstname.lastname@example.org.
Guy Elewaut: + 32 2 412 29 48
Geert Verellen: + 32 2 412 83 62
Aurelie 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.
Press release in pdf format:
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Source: Delhaize Group via Thomson Reuters ONE
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