THE NETHERLANDS: Laurus agrees transfer of Edah franchise
Laurus has reached an agreement in principle with a number of supermarket organisations, including BV Sperwer Holding and CoopCodis Holding BV, on the transfer of the Edah franchisees.
The transaction relates to 43 stores and the transfer price will be approximately €26m, Laurus said in a statement.
The transfer of the Edah franchisees to the various supermarket organisations will take place in phases between early September 2006 and the end of December 2006. It is expected that a further four stores will be transferred to the Super de Boer franchise organisation, at a price of approximately €2m.
All of the total transfer price of approximately € 28m will be applied to reduce net debt, Laurus said.
The transaction result is expected to amount to approximately €11m. Proceeds of about this amount were taken into account in the forecast of shareholders' equity and net debt at year-end which was presented to the extraordinary general meeting of shareholders on 17 July 2006.
Laurus will consult the works council on the proposed transactions.
Laurus NV has announced the appointment of Eric CJ Leebeek as marketing and purchasing manager, effective from 26 February....
Struggling Dutch retailer Laurus NV has posted sales totalling EUR3.21bn for fiscal 2006, down from EUR3.69bn in 2005, reflecting the disposal of the Edah and Konmar chains....
Dutch retailer Royal Ahold has completed the acquisition of the Konmar supermarket chain from struggling Dutch supermarket group Laurus, the companies said today (14 November)....
Struggling Dutch retailer Laurus said today (3 November) that it anticipates its flagship Super de Boer grocery chain breaking even in 2007, thanks to its restructuring plan that hopes eventually to s...
Dutch supermarket operator Ahold has confirmed it will announce the outcome of its strategic retail review on Monday 6 November 2006 at the company's Amsterdam headquarters....
Royal Ahold has received approval from the Dutch competition regulator NMa to buy 29 Konmar stores from Laurus....
Dutch retailer Laurus NV announced today (26 October) its intention dispose of the in-store off-licenses at Super de Boer stores....
Shares in Dutch retailer Laurus were given a further boost today (23 October) by reports that Ahold's Albert Heijn planned to end the price war in the Netherlands' grocery sector, rumours that have si...
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