Bahamas Supermarkets sale pending

Fri, Oct 29th 2010, 07:13 AM

Troubled grocery chain Bahamas Supermarkets Limited (BSL) will see 78 percent of its shares sold to Associated Grocers of The Bahamas Limited (AGBL), with a memorandum of understanding signed between the two companies recently, executives confirm.
If all goes according to plan, the transaction will close either on or before November 5 - pending regulatory approval and due diligence - a company statement sent to Guardian?Business outlined.
"After closing, it is expected that BSL, under its new ownership, will continue to operate the City Market stores while it develops a rationalization plan," said the release. "BSL Holdings Limited announced today that it has executed a memorandum ...

Click here to read more at The Nassau Guardian

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