BELGIUM/SINGAPORE: Delhaize considers selling Singapore stores

Belgian retailer Delhaize is considering selling its Singapore operations after receiving an offer for the Shop N Save stores. "We are considering the offer to see whether it is an opportunity for shareholders," Delhaize spokesman Geoffroy d'Oultremont was quoted by Dow Jones News as saying, declining to give further details.

October 22, 2003

Belgian retailer Delhaize is considering selling its Singapore operations after receiving an offer for the Shop N Save stores.

“We are considering the offer to see whether it is an opportunity for shareholders,” Delhaize spokesman Geoffroy d’Oultremont was quoted by Dow Jones News as saying, declining to give further details.

Delhaize owns a 49% stake in Shop N Save, which operates 36 stores in Singapore. Singapore-based food company QAF, which owns the remaining 51% stake, has received the same offer, reported Dow Jones. Delhaize paid €12m (US$14.1m) for the stake in 1999.