Delhaize Makes $425M Bid For Bulk Of Bi-Lo's Assets

Law360, New York (October 5, 2009, 1:00 PM EDT) -- Bankrupt supermarket chain Bi-Lo LLC is in talks with Delhaize Group to sell the majority of its assets to the Belgian food retail giant for $425 million in cash, according to a Monday bankruptcy court filing.

The companies signed a nonbinding letter of intent in the U.S. Bankruptcy Court for the District of South Carolina, paving the way for Delhaize's U.S. subsidiary, Food Lion LLC, to move forward with a stalking horse purchase of most of Bi-Lo's stores without taking on its debt.

In addition to...
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