Ahold Delhaize gives update on progress store divestments Belgium
13 Marzo 2017 - 10:59AM
Zaandam, the
Netherlands, March 13, 2017- Ahold Delhaize today announced
its Belgian subsidiaries have reached agreements to divest five
stores and one project in Belgium. The divestments are made to
comply with the conditions the Belgian Competition Authority (BCA)
attached to its approval of the merger of Ahold and Delhaize Group
in 2016.
Lidl Belgium has agreed to buy three
Albert Heijn stores and one project. Tanger has agreed to buy one
Albert Heijn store and one Proxy Delhaize store.
The agreements are subject to customary
closing conditions. Upon fulfillment of these conditions, the
stores are expected to be transferred within the next three months.
The current labor and working conditions of the associates will be
respected in accordance with Belgian labor laws and
regulations.
The BCA approved the merger of Ahold
and Delhaize Group on March 15, 2016, conditional upon the
divestment of eight Albert Heijn stores, five Delhaize affiliated
stores and a limited number of projects in Belgium to address
competition concerns raised by the regulator.
A full list of the store locations
referred to in this press release is included as an
annex.
Ahold Delhaize continues to work to
complete the divestment process for the other stores that need to
be divested in close cooperation with the BCA and potential buyers.
Until all divestment requirements are met, Albert Heijn and
Delhaize stores in Belgium will continue to operate under mandatory
separation.
20170313_Ahold Delhaize Update on
store divestments Belgium
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Ahold Delhaize via Globenewswire
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