Brief: DIA Sells 100% Of Share Capital Of Dia Portugal Supermercados To Auchan Portugal For 155 Mln Euros

Distribuidora Internacional de Alimentacion SA

03/08/2023 07:12

Aug 3 (Reuters) - Distribuidora Internacional de
Alimentacion SA  DIDA.MC :
    * ENTERS INTO, TOGETHER WITH ITS INDIRECT WHOLLY-OWNED
SUBSIDIARY
LUXEMBOURG INVESTMENT COMPANY 322, SHARE PURCHASE AND SALE
AGREEMENT
    * PURSUANT TO AGREEMENT, THE SELLERS WILL SELL 100% OF SHARE
CAPITAL OF DIA PORTUGAL SUPERMERCADOS TO AUCHAN PORTUGAL
    * PRICE OF TRANSACTION, WHICH MAY VARY DEPENDING ON CERTAIN
PARAMETERS, IS EUR 155 MILLION
    * AGREEMENT REACHED WILL ENTAIL TOTAL DIVESTMENT BY DIA'S
GROUP IN
TERRITORY OF PORTUGAL
    * IT IS EXPECTED THAT SELLERS WILL USE THE NET PROCEEDS IN
FULL TO
CANCEL AND REPAY PART OF THE SYNDICATED FINANCING HELD BY THE
COMPANY
    * COMPANY DOES NOT EXPECT ANY NEGATIVE ACCOUNTING IMPACTS ON
ITS
CONSOLIDATED INCOME STATEMENT ARISING FROM TRANSACTION
    * COMPLETION OF TRANSACTION IS SUBJECT TO FULFILMENT OR
WAIVER, AS
REGULATED IN AGREEMENT, OF CERTAIN CONDITIONS PRECEDENT ON OR
BEFORE MARCH 31, 2024

Source text for Eikon:  ID:nCNM8yyRW 
Further company coverage:  DIDA.MC 

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