Delhaize eyes east Europe retailers-report

Thu Jul 10, 2008 8:05am BST
 
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AMSTERDAM, July 10 (Reuters) - Belgian supermarket group Delhaize (DELB.BR) sees buying opportunities in eastern Europe as prices of rivals have come down, Dutch newspaper Het Financieele Dagblad quoted its chief executive as saying. "We are in no rush and we will certainly not pay any price. But there are now more chances to acquire medium-sized players. Prices are more realistic than in 2002," CEO Pierre-Olivier Beckers told the paper in an interview.

"There are still some companies with weak balances and private equity is standing aside for the moment," he said.

Delhaize has operations in Belgium, Greece and Romania, the United States and Indonesia.

Delhaize is seen as a good merger candidate with Dutch competitor Ahold (AHLN.AS).

"Doing a big transaction to gratify one's ego is the stupidest mistake that you can make," the paper quoted Beckers as saying. He declined to comment when asked about Ahold.

Delhaize, which makes about 70 percent of its sales in the United States, is operationally not vulnerable to the weak U.S. market that has prompted cash-strapped consumers to look for bargains, he said. (Reporting by Foo Yun Chee; Editing by Paul Bolding)

 

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