Ahold Delhaize gives update on progress store dive
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Zaandam, the Netherlands, March 13, 2017 - Ahold Delhaize today announced its Belgian subsidiaries have reached agreements to divest five stores and one project in Belgium. The divestments are made to comply with the conditions the Belgian Competition Authority (BCA) attached to its approval of the merger of Ahold and Delhaize Group in 2016.
Lidl Belgium has agreed to buy three Albert Heijn stores and one project. Tanger has agreed to buy one Albert Heijn store and one Proxy Delhaize store.
The agreements are subject to customary closing conditions. Upon fulfillment of these conditions, the stores are expected to be transferred within the next three months. The current labor and working conditions of the associates will be respected in accordance with Belgian labor laws and regulations.
The BCA approved the merger of Ahold and Delhaize Group on March 15, 2016, conditional upon the divestment of eight Albert Heijn stores, five Delhaize affiliated stores and a limited number of projects in Belgium to address competition concerns raised by the regulator.
A full list of the store locations referred to in this press release is included as an annex.
Ahold Delhaize continues to work to complete the divestment process for the other stores that need to be divested in close cooperation with the BCA and potential buyers. Until all divestment requirements are met, Albert Heijn and Delhaize stores in Belgium will continue to operate under mandatory separation.
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