Tuesday, March 20, 2001
Ahold, the food provider, is in the process of delisting its Brazilian subsidiary, Bompreo SA Supermercados do Nordeste. Bompreo has filed its intentions with the Brazilian stock exchange authorities in Sao Paulo. Delisting of Bompreo also includes the New York and Luxembourg stock exchanges.
Ahold became owner of all voting shares in Bompreo last June. Bompreo is the supermarket and hypermarket leader in Brazils north east through its 106 stores with 2000 sales of approximately Euro 1.5 billion.
Besides the voting stock, Bompreo has a total of 24.6 million non-voting preferred shares outstanding of which Ahold owns 15 million. Ahold offers R$ 12 (approximately Euro 6.00) per share for Bompreos remaining non-voting preferred shares (approximately 14% of the companys share capital). In the event that all of Bompreos non-voting preferred shares will be tendered, the transaction amounts to approximately Euro 60 million.
Ahold expects to complete the transaction in June 2001.