Zell confirms bid
Sam Z
ell, head of Chicago-based Equity Group Investments, confirms his interest in acquiring stores to be spun off in the Albertsons-Safeway merger deal.
Obviously, like any deal, it starts with the price. In this particular case, this is a $9 or $10 billion merger of Safeway and Albertsons and this is 140 stores that they were forced to divest. So their focus is on getting the big deal done, which creates an opportunistic environment on taking care of the remnants.
To divest 168 stores
Ahead of their merger next month, Albertsons and Safeway announce they are divesting 168 stores across eight states. The four buyers include Haggen, Associated Wholesale Grocers, Associated Foods Stores, and Supervalu. Safeway president and CEO Robert Edwards:
We’re pleased to have found strong buyers for these stores and to have completed this important step toward combining Albertsons and Safeway.