Supervalu Inc, the No. 3 U.S. grocery store operator, struck a deal to sell five of its retail grocery chains to an investor group led by Cerberus Capital Management LP, the company said on Thursday.Supervalu, which also reported a quarterly profit, said it would sell the Albertsons, Acme, Jewel-Osco, Shaw's and Star Market chains and related Osco and Sav-on in-store pharmacies. The transaction will be valued at $3.3 billion.The investor group includes real estate firms Kimco Realty Corp, Klaff Realty LP, Lubert-Adler Partners and Scottenstein Real Estate Group.As part of the deal, a Cerberus-led group will launch a tender offer for up to 30 percent of Supervalu's common stock at $4 per share, which represents a 50 percent premium to the 30-day average closing share price.
Kimco Realty Corporation (Kimco) is a real estate investment trust (REIT) that owns and operates North America?s portfolio of neighborhood and community shopping centers. Shares of KIM remained unchanged at $19.76. In the past year, the shares have traded as low as $16.85 and as high as $21.16. On average, 3120550 shares of KIM exchange hands on a given day and today's volume is recorded at 265679.
SUPERVALU INC. (SUPERVALU) is a United States grocery channel. Shares of SVU traded higher by 13.82% or $0.42/share to $3.46. In the past year, the shares have traded as low as $1.68 and as high as $7.43. On average, 6497600 shares of SVU exchange hands on a given day and today's volume is recorded at 21879470.
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