Belgium-based Delhaize Group announced that it plans to sell its four German stores to Rewe, the German retailer.
Terms of the deal have not been disclosed, and the sale must be approved by German antitrust authorities.
Michel Eeckhout, Chief Executive Officer of Delhaize Belgium, said in a prepared statement: "Despite the continued revenue growth of the last years, we decided in December of last year to sell our non-strategic German activities after an evaluation of our portfolio.” Delhaize first entered the German market in 2003.
Terms of the deal have not been disclosed, and the sale must be approved by German antitrust authorities.
Michel Eeckhout, Chief Executive Officer of Delhaize Belgium, said in a prepared statement: "Despite the continued revenue growth of the last years, we decided in December of last year to sell our non-strategic German activities after an evaluation of our portfolio.” Delhaize first entered the German market in 2003.
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