Belgium-based Delhaize has announced that it has increased its shareholding in Greek food retailer Alfa-Beta Vassilopoulos (Alfa-Beta) to 89.56 per cent following a tender offer launched on 18 May 2009.
The group, which holds the interest through its wholly-owned subsidiary Delhaize 'The Lion' Nederland B.V., has upped its share in the group from an initial 65.27 per cent, or just over 8.31m shares.
'We are more than happy with the success of the tender offer during which we could increase our shareholding by almost 25 per cent,' said Delhaize CEO Pierre-Olivier Beckers. 'These results will give Delhaize Group the necessary flexibility for its plan for the future of Alfa-Beta.'
Shareholders accepted the tender offer after it was upped from €30.50 per share to €34 per share on 29 June, with Delhaize now owning more than 11.4m in shares.
Meanwhile, the group has confirmed that it has entered into an agreement with German retailer Rewe for the sale of its four stores operated in Germany, although the deal is subject to approval by the country's antitrust authorities.
'Despite the continued growth of the last year, we decided in December of last year to sell our non-strategic German activities after an evaluation of our portfolio,' said Michel Eeckhout, CEO of Delhaize Belgium. 'Today, we can announce that we have reached an agreement with Rewe, which ensures continuity and opportunities for our customers and associates in the German market.
'We want to especially thank all our colleagues from Delhaize Germany for their dedication and commitment over the past years,' he added. 'Together, we have learnt a lot from our experience in Germany. We wish them all the best for future success in their new corporate environment.'
The deal is expected to be completed during the third quarter of 2009, according to Delhaize, when the capital gain will be officially recognised.
