Asda Announces purchase of Netto on Image taken
Asda today (26th May 2010) announced it had reached agreement with Dansk Supermarked A/S to purchase its fully owned subsidiary, Netto Foodstores Limited. The transaction, which remains subject to regulatory approval, will enable it to convert Netto’s UK locations into Asda stores and integrate them into its new supermarkets division for units smaller than 25,000sq ft. Asda expects to finalise the transaction after approval from the Office of Fair Trading later this summer and to complete the refurbishment of the Netto stores to trade under an Asda fascia by the middle of 2011. Until official approval is granted, all Netto stores in the UK will continue operations as usual under existing management.
Size: 5200px × 3460px
Location: UK GB Great Britain
Photo credit: © GeoPic / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: /, , , announces, asda, buys, buyspurchases, dansk, foodstores, geopic, image, mart, merge, netto, purchase, supermarked, takeover, uk, wal, wal*mart, walmart
