CMS advises Delhaize Group in acquisition of Delta Maxi Group

CMS has successfully advised the Delhaize Group in relation to the acquisition of Delta Maxi Group, the leading Serbian food retail company which operate more than 450 stores in Serbia, Bulgaria, Bosnia and Herzegovina, Montenegro and Albania.

Delhaize Group, the Belgian international food retailer present in six countries, has entered into an agreement to acquire 100% of the retail company Delta Maxi Group for a purchase price of EUR 932.5 million including net debt of approximately EUR 300 million. Combined with its existing operations in Greece and Romania, the acquisition of Delta Maxi Group will make Delhaize Group a leading retailer in South-eastern Europe.

CMS corporate partners Vincent Dirckx (CMS Brussels) and Louise Wallace (CMS London) jointly commented, "This transaction showed CMS at its best, close co-operation across eight jurisdictions to ensure a successful transaction for Delhaize Group. Delhaize is a client of CMS DeBacker who have been advising on the initial phase of the deal structuring and of the negotiation of the overall terms of the transaction, with the London team advising and leading the negotiation in connection with the sale and purchase arrangements. This has been an extremely labour intensive project, involving numerous jurisdictions and we are very pleased to have been able to successfully support Delhaize Group on their acquisition."

In Brussels, the team was led by Vincent Dirckx, supported by senior associates Razvan Emanoil with assistance of partner Carl Dotremont and associates Olivier Van Raemdonck and Mathilde Neumann on competition matters. In London, Louise Wallace led the transaction assisted by senior associates James Parkes and John O'Connor, with assistance from Jessie Oldnall and Laura Davis in connection with the Transactional Services Agreement and Anna Burchner supporting on tax.

In regards to other jurisdictions involved, Nataša Zavišin and Stojan Semiz from CMS Belgrade acted for Delhaize in connection with the due diligence in Serbia. Svetlana Majstorovi? and Milana Jevi? acted in connection with Montenegro and Atanas Bangachev in Bulgaria. Local lawyers, Nedzida Salihovic-Whalen acted in Bosnia and Herzegovina and Kalo (Sophia Darling) assisted on Albanian issues. Roman Tarlavski of CMS Amsterdam also assisted on certain Dutch law issues.

Delhaize Group has retained Lazard, Bank of America Merrill Lynch and Raffeisenbank as financial advisors for this transaction.