Delhaize Group Launches New Tender Offer for Shares of its Greek Subsidiary Alfa Beta Vassilopoulos

The proposed tender price of EUR 35.73 equals the volume weighted average price (VWAP) of the last 6 months and represents a premium of EUR 1.73 above the last tender price of EUR 34 offered in 2009.

12 Mar 2010 --- Delhaize Group, the Belgian international food retailer, announced that it has launched through its wholly owned Dutch subsidiary Delhaize “The Lion” Nederland B.V. (Delned) a voluntary public tender offer of EUR 35.73 for all of the common registered shares of Delhaize Group’s Greek subsidiary “Alfa Beta” Vassilopoulos S.A. (Alfa Beta), which are not yet held by any of the consolidated companies of Delhaize Group.

Delhaize Group currently holds through Delned more than 90% of Alfa Beta shares. The proposed tender price of EUR 35.73 equals the volume weighted average price (VWAP) of the last 6 months and represents a premium of EUR 1.73 above the last tender price of EUR 34 offered in 2009.
 
After the end of the related period, Delhaize Group will exercise through Delned the right to acquire any remaining shares that were not tendered during the tender offer (squeeze-out right). Upon reaching 95% of the voting rights in Alfa Beta, Delned  intends to initiate the process to delist Alfa Beta from the Athens Exchange. From the announcement of this tender offer until the end of the acceptance period, Delned intends to purchase shares in the market or over-the-counter at EUR 35.73 per share.
 
This voluntary tender offer follows another voluntary offer launched on May 18, 2009 to acquire all of the common registered shares of Alfa Beta. At the end of the acceptance period on July 9, 2009, Delned had acquired 89.56% of Alfa Beta. On February 9, 2010, Delned crossed the 90% share ownership threshold of Alfa Beta shares.
 
Delned has submitted an information circular for approval to the Hellenic Capital Market Commission (CMC). Following a review and approval period of the CMC, the information circular will be published and the acceptance period of this tender offer will begin during which Alfa Beta shareholders may tender their shares.
 
Please consult the website of the Athens Exchange for the formal announcement of Delned regarding this Tender Offer.