Key Developments: Etablissements Delhaize Freres et Cie le Lion SA (DEG)
66.31USD
19 Jun 2013
$0.41 (+0.62%)
$65.90
$67.09
$67.60
$66.26
39,326
56,239
$67.60
$32.50
Latest Key Developments (Source: Significant Developments)
Delhaize Group To Sell Sweetbay, Harveys And Reid's-Hugin
Hugin reported that Delhaize Group has reached an agreement with Bi-Lo Holdings, LLC ("Bi-Lo Holdings") on the divestiture of Sweetbay (72 stores), Harveys (72 stores), and Reid's (11 stores). The Company has signed an agreement with Bi-Lo Holdings to divest its Sweetbay, Harveys, and Reid's operations for USD 265 million in cash. As part of the transaction, Bi-Lo Holdings will also acquire leases for 10 prior Sweetbay locations. The Company will retain Sweetbay's distribution center. 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. Lazard acted as financial advisor to the Company for this transaction. Full Article
Delhaize Group Approves 2012 Dividend
Delhaize Group announced that the distribution of a EUR1.40 gross dividend per share. After deduction of a 25% withholding tax, this results in a net dividend of EUR1.05 per share. The 2012 dividend will become payable to owners of ordinary shares against coupon no. 51. The Delhaize Group shares will start trading ex-coupon on May 28, 2013 (opening of the market). The record date (i.e. the date at which shareholders are entitled to the dividend) is May 30, 2013 (closing of the market) and the dividend will be payable as from May 31, 2013. The ADR dividend record date is May 30, 2013 and the payment of the dividend to Delhaize Group's ADR holders will be made through Citibank beginning on June 5, 2013. Full Article
Delhaize Group CEO To Retire By Year End-Reuters
Reuters reported that Delhaize Group said that its Chief Executive Officer Pierre-Olivier Beckers would step down by the end of the year. Beckers, 53, will stay with the Company as a director and remain as the CEO until a successor is found, the group said. Full Article
Delhaize Group Announces FY 2012 Dividend Proposal
Delhaize Group announced that the Board of Directors of the Company will propose to the Ordinary Shareholders Meeting of May 23, 2013, the payment of a FY 2012 gross dividend of EUR 1.40 per share. After deduction of the 25% Belgian withholding tax, the proposed net dividend is EUR 1.05 per share. The net dividend of EUR 1.05 per share will be payable to owners of ordinary shares against coupon no. 51. Delhaize Group ordinary shares will start trading ex-coupon on May 28, 2013 (opening of the market). The payment date is May 31, 2013. Full Article
Delhaize Group Updates on Euro Tender Offer and Dollar Tender Offer Results
Delhaize Group announced that in Euro Tender Offer commenced on November 20, 2012 and expired on November 29, 2012, EUR 94,299,000 in nominal amount of the Euro Notes were validly tendered for purchase to Delhaize Group pursuant to the Euro Tender Offer. Delhaize Group has accepted for purchase an aggregate nominal amount of EUR 94,299,000 of the Euro Notes at a purchase price of 107.740%. The purchase price, together with accrued interest, will be paid to qualifying holders whose Euro Notes have been accepted for purchase on or about December 3, 2012 (the Settlement Date). Following completion of the Euro Tender Offer, an aggregate nominal amount of EUR2 14,634,000 of the Euro Notes will remain outstanding. The Company also announced that in Dollar Tender Offer commenced on November 20, 2012 expired on November 29, 2012 (the Dollar Tender Offer Expiration Time), USD 200,950,000 in aggregate principal amount of the Dollar Notes were validly tendered and not withdrawn prior to the Dollar Tender Offer Expiration Time. Delhaize Group has accepted for purchase all of the tendered Dollar Notes. Full Article
Delhaize Group Updates on Issuance New Bonds, Euro Tender Offer and Dollar Tender Offer
Delhaize Group announced that the New Bonds will be issued by the Company. The New Bonds will contain a change of control provision allowing their holders to require Delhaize Group to repurchase the New Bonds at 101% of their aggregate principal amount in certain circumstances, as approved by the general meeting of shareholders dated May 24, 2012. The Company announced the Euro Tender Offer, which purpose is to manage the debt maturity profile of Delhaize Group. The Euro Tender Offer is being made only outside the United States, and no tenders from the United States will be accepted. Any Euro Notes purchased by Delhaize Group pursuant to the Euro Tender Offer will be cancelled and will not be reissued or resold. The Euro Tender Offer is made on the terms and subject to the conditions contained in a Tender Offer Memorandum dated November 20, 2012. The Dollar Tender Offer is made on the terms and subject to the conditions contained in the Offer to Purchase dated November 20, 2012, including the offer and distribution restrictions contained therein, and the accompanying Letter of Transmittal. Full Article
Delhaize Group to Reorganize 15 City Stores' Status-TIJD
Tijd reported that Delhaize Group announced that the Company intends to transform 15 City stores in Belgium to independent proxy stores. The City stores create a chain of neighborhood stores providing fresh products, nine located in Brussels, five in Antwerp and one in Gent, Belgium. Delhaize Group intends to complete the search for new managers of the stores by late 2013. The Belgian City stores employ a number of 400 people. For a number of 280 people permanently employed by the Company transitions to Delhaize-integrated supermarket will be possible. Full Article
Delhaize Group Reaffirms FY 2012 Operating Profit Guidance in Line with Analysts' Estimates
Delhaize Group announced that the Company reaffirmed fiscal year 2012 guidance of a decrease in underlying operating profit of between 15% and 20% at identical exchange rates, but expects results to arrive at the bottom end of this range. According to I/B/E/S the analyst are expecting on average the Company to report FY 2012 operating profit of EUR 744.12 million. The Company reported FY 2011 operating profit of EUR 935 million. Full Article
Delhaize Group Updates on FY 2011 Dividend Payment
Delhaize Group announced that the Company's Shareholders have approved the distribution of a EUR 1.76 gross dividend per share. After deduction of a 25% withholding tax, this results in a net dividend of EUR 1.32 per share. The 2011 dividend will become payable to owners of ordinary shares against coupon no. 50. The Delhaize Group shares will start trading ex-coupon on May 29, 2012. The record date is May 31, 2012 and the dividend will be payable as from June 1, 2012. The ADR dividend record date is May 31, 2012 and the payment of the dividend to Delhaize Group's ADR holders will be made through Citibank beginning on June 6, 2012. Full Article
Delhaize Group Announces Appointment of Mr. Mats Jansson as Chairman of the Board of Directors
Delhaize Group announced that Mt. Mr. Mats Jansson will be appointed Chairman of the Board of the Company effective from May 24, 2012. He will succeed Mr. Georges Jacobs. Full Article
UPDATE 1-Delhaize to sell 3 U.S. supermarket chains for $265 mln
* Sale aimed focusing effort, spending on existing brands
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