Tuesday, April 1, 2008

Delhaize unit agrees to acquire Romania's La Fourmi's 14 stores for 18.6 mln eur

BRUSSELS (Thomson Financial) - Supermarket group Delhaize Group SA. said its wholly-owned unit Mega Image has agreed to acquire Romania-based La Fourmi, which operates 14 supermarkets in Bucharest, for 18.6 million euros.

The acquisition also includes real estate ownership of four stores.

La Fourmi is 90 percent-owned by Greek private equity fund Global Finance. The remaining 10 percent is owned by private investors.

La Fourmi was the first supermarket chain to open in Bucharest in 1992, Delhaize (nyse: DEG - news - people ) said in a statement. In 2007, its sales were some 30 million euros.

The acquisition requires approval from Romanian antitrust authorities. The transaction is expected to close in the second quarter.

At the end of last year, Mega Image's network consisted of 22 stores -- 19 in Bucharest, two in Constanta and one in Ploiesti.

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