Winn-Dixie completes sale of 12 stores
Aug 14, 2006 10:29 AM, from staff and wire reports
Winn-Dixie Stores Inc has completed the sale of its 12 supermarkets in the Bahamas: nine operated under the City Markets banner and three under the Winn-Dixie banner. The stores were sold to BSL Holdings Ltd, a Bahamian investor group represented by Fidelity Merchant Bank & Trust Ltd, for about $54 million. All 12 stores will stay open under their new owners.
Pursuant to a definitive agreement with BSL Holdings, W-D (Bahamas) Ltd, a wholly owned subsidiary of Winn-Dixie, has sold all of its shares of Bahamas Supermarkets Ltd (BSL) to BSL Holdings. W-D (Bahamas) owned roughly 78% of the common shares of BSL. The rest of BSL's common shares will remain publicly traded in the Bahamas.
Winn-Dixie currently operates 527 stores in Florida, Alabama, Louisiana, Georgia, and Mississippi.
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