February 5, 2018 / 3:38 PM / 4 months ago

BRIEF-Kroger To Sell Its Convenience Store Business Unit To EG Group For $2.15 Bln

* KROGER AND EG GROUP ANNOUNCE DEFINITIVE AGREEMENT FOR PURCHASE OF KROGER’S CONVENIENCE STORE BUSINESS

* KROGER CO SAYS KROGER AND EG GROUP AGREE TO SELL KROGER’S CONVENIENCE STORE BUSINESS UNIT TO EG GROUP FOR $2.15 BILLION

* KROGER CO - CO’S SUPERMARKET FUEL CENTERS AND ITS TURKEY HILL DAIRY ARE NOT INCLUDED IN THE SALE‍​

* KROGER - AS PER DEAL, EG GROUP WILL ESTABLISH THEIR NORTH AMERICAN HQ IN CINCINNATI AND CONTINUE TO OPERATE STORES UNDER THEIR ESTABLISHED BANNER NAMES

* KROGER CO - PLANS TO USE NET PROCEEDS FROM THE SALE TO REPURCHASE SHARES AND TO LOWER ITS NET TOTAL DEBT TO ADJUSTED EBITDA RATIO‍​ Source text for Eikon: Further company coverage:

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