29th Mar 2005 12:24
Shoprite Group PLC29 March 2005 SHOPRITE GROUP P.L.C. PURCHASE OF LEASEHOLD INTEREST The Board of Shoprite Group P.L.C. ("Shoprite" or the "Company") is pleased toannounce that it has, today, through its wholly owned subsidiary MyWay Limited,signed an agreement with Wm Morrison Supermarkets plc, to purchase, for £3million its leasehold interest in the Safeway store at Chester Street, Douglas(The island's capital) Isle of Man. This acquisition will provide the Group with significant additional food retailspace (approximately 18,000 sq ft of retail space) in the centre of Douglas, andthe Directors believe that it represents an exciting opportunity for Shoprite toincrease its market share. The acquisition, which remains subject to the transfer of the alcohol licenceand to the Landlord's approval, will be financed out of agreed bank facilitiesand is expected to be completed within two months. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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