10-4-17 9:58 AM EDT | Email Article

By Oliver Griffin

 

Koninklijke Ahold Delhaize N.V. ADR (ADRNY) on Wednesday said it has agreed to sell its last supermarket in Belgium to Retail Partners Colruyt Group, the Belgian owner of retail brand Spar.

Albert Heijn Groenplaats is the last store left in the Dutch company's mandatory store divestment program in Belgium, initiated after the merger of Ahold and Delhaize Group in 2016.

The deal price was not disclosed. Its finalization is subject to customary closing conditions, after which it will take approximately one month to transfer ownership of the site.

Albert Heijn Groenplaats workers will remain employed by Albert Heijn Belgium, but will be relocated to other Albert Heijn stores in Antwerp and surrounding area.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com

 

(END) Dow Jones Newswires

October 04, 2017 09:58 ET (13:58 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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