Brief: Sligro Food Group Acquires Metro Activities In Belgium

Metro AG

07/12/2022 12:15

Dec 7 (Reuters) - Sligro Food Group NV  SLIGR.AS :
    * SLIGRO FOOD GROUP ACQUIRES METRO ACTIVITIES IN BELGIUM
    * OUTLET IN EVERGEM AND THE STAFF WORKING THERE WILL BE
TRANSFERRED TO FOOD SERVICE MARKET WHOLESALER VAN ZON
    * COURT IN ANTWERP TODAY AUTHORISED COURT-APPOINTED JUDICIAL
TRUSTEES TO SELL MAJORITY OF METRO ACTIVITIES IN BELGIUM TO
SLIGRO FOOD GROUP
    * AN AMOUNT OF EUR 47 MILLION IS BEING PAID FOR OUTLETS
SLIGRO
FOOD GROUP IS ACQUIRING, WHICH INCLUDES LIÈGE SITE PROPERTY
    * CURRENT INVENTORIES WILL BE ACQUIRED AT 75% OF NET
PROCUREMENT
VALUE AND CASH AT NOMINAL VALUE.
    * TRANSACTION REQUIRES THE APPROVAL OF THE BELGIAN
COMPETITION
AUTHORITY (BCA)
    * AN AMOUNT OF EUR 47 MILLION IS BEING PAID FOR OUTLETS
SLIGRO
FOOD GROUP IS ACQUIRING, WHICH INCLUDES LIÈGE SITE PROPERTY
    * DURING THE INITIAL PERIOD, SPECIAL ATTENTION WILL BE PAID
TO THE
485 NEW EMPLOYEES WHO WILL TRANSFER FROM METRO TO SLIGRO FOOD
GROUP
    * STAFF FROM THE ANTWERP NORTH OUTLET, WHICH WILL NOT BE
TAKEN
OVER, WILL BE OFFERED A JOB AT THE NEARBY SLIGRO-ISPC OUTLET IN
ANTWERP
    * SIGNIFICANTLY LOWER REVENUE IS EXPECTED ONCE ALL THE
OUTLETS
HAVE BEEN REOPENED BY MID-JANUARY 2023, THOUGH THIS IS EXPECTED
TO RETURN WITHIN A FEW YEARS TO THE LEVEL REVENUE WAS AT PRIOR
TO THE ANNOUNCED RESTRUCTURING

Source text: https://bit.ly/3iKvsnP
Further company coverage:  SLIGR.AS 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))