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Distribuidora Internacional de Alimentacion reaches agreement to acquire El Arbol supermarket chain

Tuesday, 1 Jul 2014 08:00pm EDT 

Distribuidora Internacional de Alimentacion SA:DIA Group has reached agreement to purchase 100 percent stake in Grupo El Arbol.Shares of El Arbol have been valued at one euro.In turn, DIA acquires existing participative loan with payment of fixed price of 26 million euros and variable price linked to performance of certain financial figures amounting to maximum of 25.8 million euros.In addition, there is maximum estimated financial debt of 99 million euros.DIA has agreed to concede financing line to El Arbol of 7.5 million euros.Currently, Grupo El Arbol has 455 commercial stores (425 proximity supermarkets) mainly in regions of Asturias, Castilla y Leon, Aragon, Estremadura and Galicia. 

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