SuperValu – NAI/Albertsons

On March 21, 2013, SUPERVALU Inc. (NYSE: SVU) announced it completed the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Marketstores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management L.P.-led investor consortium which includes Kimco Realty, Klaff Realty, LP, Lubert-Adler Partners and Schottenstein Real Estate Group, in a stock deal valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption.

As part of the transaction, SUPERVALU also announced that Symphony Investors, a Cerberus-led investor consortium, completed its tender offer resulting in the acquisition of 11,686,406 shares (approximately 5.475 percent of SUPERVALU’s outstanding common stock) at a purchase price of $4.00 per share in cash.

In addition, pursuant to the terms of the transaction, the company issued 42,477,692 million new shares of common stock (approximately 19.9 percent of the outstanding shares) to Symphony Investors at a purchase price of $4.00 per share in cash to the company, or approximately $170 million.

The tender offer and primary stock issuance establish Symphony Investors as SUPERVALU’s largest shareholder with 21.2 percent of total outstanding common shares.