BELGIUM: Delhaize looks to raise C Market stake
According to Bloomberg, Delhaize will pay EUR9.72m (US$13m) for the stake
Belgium-based retailer Delhaize Group, has confirmed it is interested in purchasing a further stake in Serbian retailer C Market from the country's government.
A spokesperson for the retailer told just-food today (11 February) that it is looking to acquire a 16% share in the group, which would raise its holding to more than 91%. He declined to comment further on the plans, however, and added: "We are in the middle of the privatization process and we will only be able to comment when the process is over."
According to Bloomberg, Delhaize will pay EUR9.72m (US$13m) for the stake, or EUR300 per share. The remaining stake in C Market belongs to the company's employees.
Delhaize started its expansion in Serbia in 2011 through the acquisition of Delta Maxi Group, the country's biggest grocery chain, for EUR932.5m. In April last year, the company announced plans to build a distribution centre in the country as part of its expansion plans there.
Throughout the forecast period there is great potential for Lion Superindo –Gelael PT to expand its Super Indo supermarket network outside Java, especially in major cities outside Java, such as Medan,...
- On the money: Hormel still looking for M&A
- BRICs and beyond: Fonterra, Beingmate partnership
- Consuming issues: The hunger-obesity paradox
- On the money: Mengniu hones in on "star" brands
- just-food interview: Agropur CEO Robert Coallier
- Fonterra, Beingmate launch infant formula JV
- Mondelez eyes snacks categories in India
- Parmalat nears Lacteos Brasil acquisition
- UK firm Pasta Reale enters administration
- Italy yoghurt woes lead to Emmi profit warning