Alcampo buys 235 supermarkets from DIA for 267 million euros

The Alcampo chain has reached an agreement to buy 235 medium-sized supermarkets in eight autonomous communities from DIA, totaling a retail area of ​​around 180,000 square metres, for a price of 267 million euros.

This was reported by both companies on Tuesday in a joint note and DIA has specified it in two communications to the National Securities Market Commission (CNMV) in which it delves into the details of the operation.

These supermarkets are located in the communities of Madrid, Aragón, Asturias, Castilla y León, Galicia, Cantabria, Navarra and the Basque Country.

Along with these supermarkets, the operation also includes the transfer of two logistics warehouses that the DIA Group owns in Villanubla (Valladolid).

The note specifies that the supermarkets sold to Alcampo, with an individual area of ​​about 760 square meters, do not fit with DIA’s strategy focused on proximity establishments and what are known as neighborhood stores.

The agreement also contemplates the sale of “certain contracts, licenses, assets and employees related to said establishments and logistics warehouses”, DIA stated in a communication to the National Securities Market Commission (CNMV).

The price of the operation will be paid entirely in cash and, although DIA has indicated that it may vary depending, among other parameters, on the total number of assets finally transferred, it has specified that if all the conditions of the contract are met, the maximum price that the company would obtain would be 267 million euros.

In addition, DIA has informed that it does not expect negative accounting impacts on its consolidated income statement derived from this sale.

The transaction is subject to the approval of the competition authorities and other consents that are expected to be obtained during the next few weeks until all the transfers are completed in mid-2023.

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