INTERCONTINENTAL FINISHES DEAL IN TIME

CHESHIRE, Conn. -- Intercontinental Holding Co., a recently formed independent operator and affiliate of Bozzuto's here, got its holiday wish.

giving and Christmas rush.

The Federal Trade Commission approved a divestiture application last month for four stores, which the Dutch-based retailer was required to sell when it acquired Stop & Shop Cos., Quincy, Mass. The Connecticut Attorney General's office required Ahold to sell off one more store, and four others were part of separate negotiations.

Intercontinental officials were not sure if they would be able to meet plans to open the stores in time for the holiday season because a public-comment period on the divestiture was expected to end Nov. 29. But the FTC shortened the deadline to speed up the transactions.

Intercontinental started opening the converted Adam's Super Food Stores the beginning of November and was expected to open the last few in the early part of December, according to Kevin Daly, Bozzuto's director of legal affairs.

The Southington, Conn., unit was sold to Shaw's Supermarkets, East Bridgewater, Mass., Daly said. Intercontinental will operate the Watertown, Conn., store Shaw's bought from Ahold.