Key Developments: Etablissements Delhaize Freres et Cie le Lion SA (DELB.BR)
50.11EUR
24 May 2013
€0.14 (+0.27%)
€49.97
€50.20
€50.43
€49.74
470,958
726,465
€50.60
€25.59
Latest Key Developments (Source: Significant Developments)
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 Comments On Q2, Q3, FY 2012 Profit Guidance-Conference Call
Delhaize Group announced that as a result of the prevailing trading environment and its decision to investment in the price competitiveness, the Company anticipate a decrease of its underlying profit by 15% to 20% for fiscal 2012, at identical exchange rate. Within the year, in the second quarter in particular, but also in the third quarter, the Company's operating profitability will be impacted by its Food Lion repositioning and by the Company's further price investments at Hannaford and Delhaize Belgium. Full Article
Delhaize Group Announces Debt Tender Offer Results; Completes Pricing Of Senior Notes-Hugin
Hugin reported that Delhaize Group has announced the results of a tender offer to qualifying holders for cash prior to maturity of up to EUR 300 million aggregate principal amount of its outstanding 5.625% Senior Notes due 2014 (the "Notes"), plus accrued and unpaid interest and premium amounts (the "Offer"). The Company also announced that it has completed the pricing of USD 300 million of Senior Notes due 2019, at an annual coupon of 4.125% (the "New Notes"), to be issued at 99.807% of their principal amount. The net proceeds of the issuance will be used in part to fund the Company's repurchase in the Offer. Any remaining net proceeds from the sale of the New Notes are expected to be used for general corporate purposes. Full Article
UPDATE 1-Delhaize seeks new CEO as long-serving boss heads out
BRUSSELS, May 8 - Belgian grocer Delhaize is looking for a new chief executive after its boss of 14 years, who brought together a loose grouping of businesses and built them up in the United States and eastern Europe, said he was stepping down.
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
