IFIL - Closing of the sale of Rinascente’s food businessDecember 17, 2004
Following the approval by the European antitrust authority, the deal signed by Auchan Group and IFIL Group - announced on November, 5th. - has been closed.
The IFIL Group has sold to the Auchan Group its share of Società Italiana Distribuzione Moderna S.p.A. – which includes the Auchan hypermarkets, the SMA supermarkets, 50% of SIB S.p.A. (DIY) and 51% of Gallerie Commerciali Italia S.p.A.
The IFIL Group cashed in € 810,5 million. The payment of the balance of € 252,4 million is scheduled by the middle of 2005.