etailer Dia Group has signed an agreement to acquire 100 per cent of the capital share of El Arbol. The shares were valued at €1. Through this agreement Dia will acquire the existing shareholder-loan by paying a fixed price of €26 million, and a variable rate linked to the change of certain financial ratios, which amounts to a maximum of €25.8 million. These figures must include also an estimated €99 million debt, according to a statement.At present, El Arbol Group operates 455 retail outlets (425 of which are convenience stores) located mainly in the regions of Asturias, Castilla y Leon, Aragon, Extremadura and Galicia. Net sales in 2013 amounted to €822 million.
Dia will continue to use the El Arbol logo, thus demonstrating its commitment to the convenience-store retailing, and supplying fresh produce.
