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Asda buys Danish shipper's supermarket chain

UK Netto stores are expected to trade under an Asda fascia by summer 2011. (Photo: Stock File)

(UNITED KINGDOM, 6/2/2010)

Dansk Supermarked A/S on Thursday entered into an agreement to sell its fully owned subsidiary British supermarket chain Netto Foodstores Limited to Asda Stores Ltd for GBP 778 million (EUR 917.2 million) on a cash and debt free basis.

“Netto UK has been profitable and was appointed ‘Discounter of the Year’ in 2009 in the UK,” said Erling Jensen, CEO of Dansk Supermarked A/S. “We have substantial opportunities for growth in Scandinavia and Northe... (More Info)

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