Vendex plans to merge unit with De Boer Unigro

Article Abstract:

Vendex International NV, a retailer based in the Netherlands, will merge its food unit with rival De Boer Unigro NV to create the second largest supermarket in the Netherlands. Under the agreement, Vendex will transfer all of its shares in its food group to De Boer in exchange for two new common shares certificates to be issued by De Boer to Vendex shareholders. De Boer Unigro will receive a 55% stake in the new listed company with Vendex taking the remainder as well as taking the top position on the management board led by Vendex board member Willie Angenent and De Boer's chairman Robert ter Haar.

Comment:

Will merge w/ Vendex International NV's food unit

De Boer Winkelbedrijven N.V.

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Vendex faces more hurdles in KBB bid

Article Abstract:

Vendex NV of the Netherlands has to consider increasing its bid for its department store rival Koninklijke Bijenkorf Beheer NV (KBB) due to a surprise offer from WE International BV of Utrecht, the Netherlands, noted analysts. Delta Lloyd analyst Peter Wortel indicated that WE International BV should prove its capability to back its bid financially before Vendex can take action. WE International, which has already bought 5% of KBB in the past months, will rely on support from Gilde Management Investment and Rabobank International in addition to its own reserves.

Comment:

Has to consider hiking bid for Koninklijke Bijenkorf Beheer NV due to a surprise offer from WE International of Netherlands

Asset sales & divestitures, WE Intnl, Vendex NV

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Vendex will need special license for KBB merger

Article Abstract:

Vendex International NV will need a special license to merge with fellow Dutch retailer, Koninklijke Bijenkorf Beheer (KBB), according to Dutch mergers watchdog NMa. In February 1998, Vendex unveiled its total bid of 1.7 billion guilders ($840.8 million) for all outstanding shares of KBB. Vendex, which applied for the special license on Jun. 23, 1998, is confident it can get a favorable ruling from the NMa. The NMa will spend a maximum of 13 weeks to look into the relevant markets for the two firms and the market share size of both Vendex and KBB.

Comment:

Will need a special license to merge w/ fellow Dutch retailer, Vendex International NV, says Dutch mergers watchdog

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