Kimco Realty Corp. KIM, the nation's largest owner and operator of
neighborhood and community shopping centers, announced that it is a
participant in the transaction reported earlier today by SUPERVALU INC.
SVU through its investment in a consortium led by Cerberus Capital
Management, L.P. The company will hold an interest of approximately 15 percent
in this investment group that originally acquired a portion of Albertsons,
Inc. in 2006. Kimco anticipates funding its investment of up to $76.5 million
from existing cash balances, existing credit facilities and cash from
operations.
Commenting on the transaction, Kimco CEO Dave Henry said, “We are excited
about adding to our successful investment in Albertsons which will reunite all
of the Albertsons stores, and expand the proven management skills of Bob
Miller and his team to the other SUPERVALU brands and operations.”
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in