Delhaize Group Begins Trading on New York Stock Exchange
(Washington, DC) - Belgian food retailer Delhaize Group (NYSE: DEG) recently launched its American Depositary Receipt (ADR) program in a share exchange transaction valued at approximately $2.5 billion. Delhaize Group, which owns and operates 2,301 supermarkets and convenience stores in the United States, Europe and Asia, is now the only Belgian company listed on the New York Stock Exchange.
Under the terms of the complex cross-border transaction, Delhaize Group acquired 100 percent of the outstanding shares of Delhaize America, Inc. Delhaize America shareholders exchanged their shares for either Delhaize Group ADRs traded on the New York Stock Exchange or Delhaize Group ordinary shares traded on Euronext Brussels. Delhaize America is the parent company of Food Lion, Hannaford Bros. and Kash n’ Karry Food Stores.
Akin Gump represented Delhaize Group in the transaction.
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