Brief: DIA To Fully Exit Argentina With Sale Of DIA Argentina

Distribuidora Internacional de Alimentacion SA

Today 17:44

Nov 5 (Reuters) - Distribuidora Internacional de Alimentacion SA DIDA.MC:
TO FULLY EXIT ARGENTINA WITH SALE OF DIA ARGENTINA
PURCHASER IS ARGENTINE COMPANY WHICH OPERATES CHANGOMÁS SUPERMARKET CHAIN LOCALLY
TO RECEIVE $53.80 MILLION AT CLOSING OF DIA ARGENTINA SALE
TO RECEIVE $40 MILLION FROM SHARE SALE, $9 MILLION FROM BRAND LICENSE, $4.80 MILLION FROM CREDITS
EXPECTS AN ESTIMATED NEGATIVE ACCOUNTING IMPACT OF EUR 100 MILLION ON ITS CONSOLIDATED INCOME STATEMENT
NET PROCEEDS EXPECTED TO BE ALLOCATED TO REINVESTMENT (CAPEX)
TO USE PROCEEDS TO ACCELERATE ORGANIC EXPANSION IN SPAIN
PARTIES HAVE AGREED TRANSACTION WILL BE COMPLETED ON 12 NOVEMBER
Source text: ID:nCNM6qfZmy
Further company coverage: DIDA.MC

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