ZAADAM, The Netherlands -- Ahold here said last week it expects the Federal Trade Commission "shortly" to approve its acquisition of Giant Food, Landover, Md., now that Ahold has lined up buyers for 10 stores.
t Food stores -- all of them in the Philadelphia area and operating under the Super G banner -- will be sold to Supervalu, a distributor based in Minneapolis; one Giant in Eldersburg, Pa., will be sold to Safeway.
The company said one Martin's in Bel Air, Md., would be sold to Fleming Cos., Oklahoma City; a Martin's in Westminster, Md., to Richfood Holdings, Richmond, Va., and two Martin's in Frederick, Md., to Frederick County Foods LLC.
Ahold said the FTC had said would have to divest itself of 10 stores before the FTC would approve the Giant Food acquisition. "Divesting these stores counterbalances Ahold's increased market presence in these states following completion of the transaction," the company said.
"Ahold has now received preliminary indications from FTC staff that the buyers for all 10 stores and the signed purchase and sale agreements are acceptable. "We now look forward to the senior FTC staff review and then the vote by FTC commissioners, which will constitute final approval of the divestiture settlement. Once that is granted, we can round off our tender offer for Giant Food's Class A nonvoting stock and complete the acquisition. e are optimistic the commission's vote will take place shortly."