AHOLD AND BOMPRECO, BRAZIL, IN NEW SUPERMARKET ACQUISITION AGREEMENT WITH MAJORITY OWNER OF SUPERMAR.BRAZIL, RECIFE/THE NETHERLANDS, ZAANDAM--(BUSINESS WIRE)-- March 4, 1997--Bompreco S.A. Supermercados do Nordeste (Bompreco) in Brazil, in which Royal Ahold holds 50% of the voting stock Voting stock The shares in a corporation that entitle the shareholder to vote. voting stock Stock for which the holder has the right to vote in the election of directors, in the appointment of auditors, or in other matters brought up at the , has signed a share purchase agreement with Panda S.A., to acquire a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in the voting stock in the regional supermarket company SuperMar Supermercados S.A. SuperMar operates in total 50 stores: 45 supermarkets, 3 hypermarkets and 2 discount warehouses in Salvador with 1996 sales of US$645 million. Salvador is the capital of the northeastern State of Bahia which borders the trade area of Bompreco. SuperMar is marketleader in Salvador and Bahia. The planned acquisition will further strengthen Bompreco's position in the North East of Brazil and will increase total Bompreco food retail sales to over US$2 billion, ranking it as the third largest supermarket company of Brazil. Final acquisition terms will be set following completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. . After completion Bompreco expects to announce a tender offer to acquire all the remaining SuperMar shares outstanding. Last November Bompreco and Royal Ahold announced a strategic alliance to develop food retail operations in North and North East Brazil. In December the cooperation got underway as Ahold acquired 50% of the voting stock of Bompreco, whose current US$1.3 billion food retail operations include 8 hypermarkets, 39 supermarkets and, among others, 3 department stores. Bompreco also owns a consumer credit subsidiary. Based in The Netherlands, Royal Ahold has major food retail operations in the United States where its four large supermarket companies have combined sales of over $14 billion, ranking Ahold as the leading supermarket company in eastern United States; in Europe, where Ahold is the marketleader in The Netherlands and the Czech Republic and has major joint venture operations in Portugal, Poland, and Spain; and in Asia where Ahold has supermarket operations with local partners in Malaysia, Thailand, Singapore and China. In addition to its listing in the US on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE NYSE See: New York Stock Exchange : AHO), Ahold's shares are trading on the Amsterdam Stock Exchange
The Amsterdam Stock Exchange is the former name for the stock exchange based in Amsterdam. , on the Zurich Stock Exchange, and on the Brussels Stock Exchange Brussels Stock Exchange (BSE) Stock exchange that handles the majority of securities transactions in Belgium. . Ahold ordinary shares may be accessed on the Reuter Equities 2000 Service under the symbol AHLN.AS and on Quotron under the symbol AHOLN.EU. Additional information is available on Ahold's home page: http://www.ahold.nl. CONTACT: Royal Ahold Hans Gobes 011-31-75-659-5665 After office hours office hours, n.pl See business hours. : 011-31-23-527-0456 or Taylor Rafferty Associates Jeff Zelkowitz, 212/889-4350 |
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