Dutch retail food store operator Koninklijke Ahold Delhaize NV said March 13 that its Belgian subsidiaries sold five stores and one project to comply with the Belgian Competition Authority's terms for the merger of Ahold and its Belgian peer Delhaize Group.
Supermarket operator Lidl Belgium GmbH & Co. KG will buy three Albert Heijn stores and one project, while real estate company Tanger Factory Outlet Centers Inc. will buy one Albert Heijn store and one Proxy Delhaize store. Financial terms were not disclosed.
Ahold Delhaize added that the divestitures are expected to be transferred within the next three months upon meeting closing conditions.
The Belgian Competition Authority approved the merger March 15, 2016, subject to the sale of eight Albert Heijn stores, five Delhaize-affiliated stores and a limited number of projects in Belgium.