Food Retail & Distribution

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Albertsons and Safeway complete merger transaction

8:35am EST

AB Acquisition LLC and Safeway Inc:Completed their proposed merger.Under the terms of merger agreement first announced and unanimously approved by Safeway's Board of Directors in March 2014, AB Acquisition LLC, the owner of Albertson's LLC and New Albertson's, Inc. will acquire all outstanding shares of Safeway.Says AB Acquisition is controlled by an investor group led by Cerberus Capital Management, L.P., which also includes Kimco Realty Corporation, Klaff Realty LP, Lubert-Adler Partners LP, and Schottenstein Stores Corporation.Safeway shareholders will receive $34.92 per share in cash, consisting of $32.50 in initial cash consideration, $2.412 in consideration relating to previously announced sale of assets of Safeway's real-estate development subsidiary Property Development Centers, LLC.Also receives $0.008 in consideration relating to dividend of about $2 mln that Safeway received in Dec. 2014 on its 49 pct interest in Mexico-based food and general merchandise retailer Casa Ley, S.A. de C.V.In addition, shareholders will receive contingent value rights entitling them to pro rata proceeds relating to deferred consideration from the sale of PDC and any proceeds from the sale of Safeway's 49 pct interest in Casa Ley pct.

O Will lowers consolidated full-year outlook for FY 2015

1:30am EST

O Will Corp:Says the company lowered the consolidated full-year outlook for revenue to 27,800 million yen from 30,000 million yen for FY ending March 2015.Sees a decrease of operating profit forecast to 261 million yen from 420 million yen.Sees a decrease of ordinary profit forecast to 270 million yen from 420 million yen.Sees a decrease of net profit forecast to 125 million yen from 250 million yen.Sees a decrease of earnings per share to 39.68 yen from 79.37 yen.Comments the downturn in consumer spending, decrease beverage market consumption and increased cost are the main reasons for the forecast.

Beijing Hualian Hypermarket gives 2014 net profit outlook

Thursday, 29 Jan 2015 07:00pm EST

Beijing Hualian Hypermarket Co Ltd:Sees net profit for 2014 to increase 170 pct.Says the net profit of 2013 was 40.5591 million yuan.Comments that stake transaction is the main reason for the forecast.

Diplomat Pharmacy Inc's Imbruvica receives expanded approval for treatment of Waldenstrom's macroglobulinemia

Thursday, 29 Jan 2015 05:24pm EST

Diplomat Pharmacy Inc:Announces that the U.S. Food and Drug Administration has approved an expanded indication of Imbruvica (ibrutinib) for the treatment of Waldenstrom's macroglobulinemia (WM).Says the drug was granted expanded approval under the breakthrough therapy designation.WM is a type of non-Hodgkin lymphoma that begins in the body's immune system.Diplomat is currently distributing IMBRUVICA for the treatment of mantle cell lymphoma and chronic lymphocytic leukemia.

Fitch places ratings of Organizacion Soriana on CreditWatch negative

Thursday, 29 Jan 2015 04:51pm EST

Organizacion Soriana SAB de CV:Fitch has placed long and short-term national credit ratings of company (AAA(mex) and F1+(mex)) on CreditWatch negative.

Major Holdings Ltd gives profit guidance for nine months ended Dec. 31, 2014

Thursday, 29 Jan 2015 08:54am EST

Major Holdings Ltd:Expects to record substantial increase of unaudited profit attributable to equity holders of the company for nine months ended Dec. 31, 2014, as compared to corresponding period in previous financial year.

Grilled Cheese Truck Inc announces appointment CEO

Thursday, 29 Jan 2015 08:00am EST

Grilled Cheese Truck Inc:Appoints Al Hodges to role of Chief Executive Officer and member of Board of Directors, effective immediately.

The Pantry Inc withdraws FY 2015 guidance

Thursday, 29 Jan 2015 07:00am EST

The Pantry Inc:Says due to the pending merger with Couche-Tard, The Pantry is no longer issuing financial guidance and is withdrawing the previous financial guidance for FY 2015 issued on Dec. 9, 2014.

Controladora Comercial Mexicana SAB de CV sells part of its business to Organizacion Soriana

Wednesday, 28 Jan 2015 09:05pm EST

Controladora Comercial Mexicana SAB de CV:Agrees to sell part of its business for 39,194 million pesos to Organizacion Soriana.Agreement covers a sale of 160 own and leased self-service shops from chains: Mega, Tiendas Comercial Mexicana, Bodega Comercial Mexicana and Alprecio.Shops from City Market, Fresko, Sumesa and other chains are not part of the deal.Says Soriana will acquire shares of a group of companies which operate 118 own shops, 42 leased shops, 3 distribution centers, 18 land reserves and other property through a public offering.Current shareholders will remain owners of 40 shops, 1 distribution center, 2 land reserves, California Restaurants and other property (all of which represents about 22 pct of sales and 24 pct of EBITDA).

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