2006 News Releases
Investors:
(212) 521-4835
Media:
Kekst and Company
Michael Freitag
212-521-4896
COURT APPROVAL GRANTED IN CONNECTION WITH SALE
OF 12 WINN-DIXIE SUPERMARKETS IN THE BAHAMAS
JACKSONVILLE, FL, May 18, 2006 – Winn-Dixie Stores, Inc. today announced that the U.S. Bankruptcy Court for the Middle District of Florida has given its approval in connection
with the sale of 12 supermarkets in the Bahamas — 9 operated by Winn-Dixie under the City Markets banner and 3 under the Winn-Dixie banner. The stores are to be sold to BSL Holdings Limited, a
Bahamian investor group represented by Fidelity Merchant Bank & Trust Limited, for approximately $54 million. All 12 stores are expected to remain open following completion of the transaction.
Pursuant to a definitive agreement with BSL Holdings Limited, W-D (Bahamas) Ltd. (“W-D (Bahamas)”), a Bahamas Company and a wholly-owned subsidiary of Winn-Dixie, has agreed to sell all of its
shares of Bahamas Supermarkets Limited (“BSL”) to BSL Holdings Limited. W-D (Bahamas) owns approximately 78% of the common shares of BSL. The remainder of BSL’s common shares will remain publicly
traded in the Bahamas. The sale agreement is subject to conditions, including regulatory approval in the Bahamas.
The stores were sold at auction on Tuesday, May 16th to the higher bid of two competing groups — BK Foods, Ltd., and BSL Holdings Limited. BSL Holdings Limited had the winning bid of $54 million.
Upon completion of this transaction, Winn-Dixie will operate 538 stores in Florida, Alabama, Louisiana, Georgia, and Mississippi (including 10 that are temporarily closed as a result of Hurricane
Katrina). A list of these stores is available at www.winn-dixie.com.
About Winn-Dixie
Winn-Dixie Stores, Inc. is one of the nation’s largest food retailers. Founded in 1925, the company is headquartered in Jacksonville, FL. For more information, please visit
www.winn-dixie.com.
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News Release #6021