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Delhaize Group to exit Bosnia & Herzegovinia
Brussels, Belgium -- Delhaize Group has signed an agreement with Tropic Group B.V. to divest all of its 39 Bosnian & Herzegovinian stores. Tropic Group B.V. is an entrepreneurial organization founded by retail executive Bojan Risović.
The transaction is expected to complete in third quarter 2014, subject to regulatory approval and working capital adjustments. Terms were not disclosed. Delhaize originally purchased the stores from Serbian retailer Delta Maxi in 2011. -
DDR sold $198 million of non-prime assets in Q1
Beachwood, Ohio — DDR Corp. has announced that it sold 14 non-prime assets in the first quarter for gross proceeds of $198 million. The company’s share of the proceeds totaled $142 million. In addition, DDR currently counts 14 non-prime operating assets valued at $97 million and $36 million of non-income producing assets currently under contract. DDR expects its share of the proceeds from these transactions to come to $103.