December 27, 2019 / 6:49 AM / a month ago

BRIEF-DIA To Transfer Main Business Units To Companies in Luxembourg

Dec 27 (Reuters) - Distribuidora International de Alimentacion SA:

* SAID ON THURSDAY THAT WITH EFFECTS FROM JANUARY 1, 2020 IT WOULD INITIATE A PROCESS TO TRANSFER ITS MAIN BUSINESS UNITS TO CERTAIN SUBSIDIARIES, WHICH WILL BE OWNED BY SEVERAL INTERMEDIATE LUXEMBOURG COMPANIES

* THE TRANSFER OF THE THREE MAIN BUSINESS UNITS OF THE COMPANY WILL INCLUDE ALL OF DIA’S ASSETS, LIABILITIES, SHAREHOLDINGS, CONTRACTS AND EMPLOYEES COMPRISING THE RETAIL AND WHOLESALE BUSINESS, THE FOREIGN BUSINESS AND THE CENTRAL SERVICES

* A PART OF THE DEBT UNDER THE SYNDICATED FACILITIES WILL BE TRANSFERRED TO CERTAIN SPANISH SUBSIDIARIES OF DIA, WHICH WILL BE OWNED BY INTERMEDIATE LUXEMBOURG COMPANIES

* THE SHARES, BANK ACCOUNTS AND RECEIVABLES OF THE DIRECTLY AND INDIRECTLY WHOLLY-OWNED UNITS OF DIA INVOLVED IN THE TRANSACTION WILL BE PLEDGED

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Further company coverage: (Gdansk Newsroom)

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