3rd May 2005 07:00
Morrison(Wm.)Supermarkets PLC30 April 2005 Disposal of Safeway Jersey and Safeway Guernsey Wm Morrison Supermarkets PLC ("Morrisons") has agreed to sell its subsidiariesSafeway Stores (Jersey) Limited and Safeway Stores (Guernsey) Limited to YorkieHoldings Limited, a subsidiary of CI Traders ("CIT"), an AIM listed Jersey basedcompany. The consideration payable is £51 million (subject to a net asset adjustment asat completion) payable in cash on completion. The effective date of the saleand acquisition was close of business on 30 April 2005. The sale of its trading subsidiaries in Jersey and Guernsey confirms Morrisons'strategy of focusing its business in the United Kingdom. CIT intends to tradethe stores under their existing company names subject to agreement of a newcorporate logo and trading style. (ENDS) Enquiries Morrisons 01274 356804Gillian Hall Citigate Dewe Rogerson 020 7638 9571Simon Rigby/Sarah Gestetner/Anthony Kennaway This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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