Rewe Acquires Four Stores Operated In Germany By Delhaize Group
This acquisition is approved by German antitrust authorities
Delhaize Group, the Belgian international food retailer, has completed the sale of its four stores operated in Germany to the German retail group Rewe.
Reportedly, in December 2008, Delhaize Group decided to start the divestiture process of its four German stores, which resulted in an agreement to sell these activities to Rewe in July 2009.
The company said that the divestiture of the four German stores to Rewe has been approved by the German antitrust authorities and as a result, the earlier announced transaction has been closed.
The company claims that in 2008, it recorded EUR19.5m in revenues and a small operating loss. Due to the decision to divest, the results of the German business have been reported as results from discontinued operations in the 2008 financial statements of Delhaize Group and until September 1, 2009.
Delhaize Group is a Belgian international food retailer present in six countries on three continents. At the end of the second quarter of 2009, Delhaize Group’s sales network consisted of 2 684 stores.
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