Delhaize Group SA agreed to acquire Bourriez retail group

Delhaize Group SA signed an agreement to acquire the remaining 42.4% stake it does not already own in GMB, France, the holding company that controls the French supermarket group Cora, from Casino Guichard Perrachon SA for EUR850 million (US$1 billion) in cash. Under the terms of the agreement, the hares will be sold by Casino after exercise of its call option with Deutsche Bank AG.

On October 2001, Deutsche Bank AG, Frankfurt, Hesse (Hessen), Germany, the banking group, acquired the 42.39% stake in GMB from Carrefour SA for a consideration of EUR850 million. This agreement terminates the legal proceedings between Delhaize Group SA and Casino Guichard Perrachon SA on one hand, and Deutsche Bank AG and Carrefour SA, on the other hand.

Also, it resolves the disputes between Deutsche Bank and Delhaize Group. The transaction enables Delhaize Group SA to acquire full control of its subsidiaries Cora, Supemarches Match and Truffaut. The transaction will also enable Delhaize Group SA to strengthen its financial structure. The transaction is expected to close on 2 May 2006.

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