Royal Ahold, the global food provider, is in the process of delisting its Brazilian subsidiary, Bompreço SA Supermercados do Nordeste. Bompreço has filed its intentions with the Brazilian stock exchange authorities in Sao Paulo. Delisting of Bompreço also includes the New York and Luxembourg stock exchanges.
Ahold became owner of all voting shares in Bompreço last June. Bompreço is the supermarket and hypermarket leader in Brazil’s north east through its 106 stores with 2000 sales of approximately Euro 1.5 billion.
Besides the voting stock, Bompreço 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 Bompreço’s remaining non-voting preferred shares (approximately 14% of the company’s share capital). In the event that all of Bompreço’s non-voting preferred shares will be tendered, the transaction amounts to approximately Euro 60 million.
Ahold expects to complete the transaction in June 2001.