Winn-Dixie completes $54 million sale of 12 Bahamas supermarkets

By Caroline Salls

Pittsburgh, Aug. 11 - Winn-Dixie Stores, Inc. has completed the sale of its 12 supermarkets in the Bahamas to investor group BSL Holdings Ltd. for $54 million, according to a company news release.

The release said nine of the supermarkets were operated by Winn-Dixie under the City Markets banner and three under the Winn-Dixie banner.

Winn-Dixie said all 12 stores will open under their new owners.

Under the purchase agreement, W-D (Bahamas) Ltd., a wholly owned subsidiary of Winn-Dixie, has sold all of its shares of Bahamas Supermarkets Ltd. to BSL Holdings.

W-D (Bahamas) owned about 78% of the common shares of BSL.

The remainder of BSL's common shares will still be publicly traded in the Bahamas.

Winn-Dixie, a Jacksonville, Fla., supermarket company, filed for Chapter 11 on Feb. 21, 2005 in the U.S. Bankruptcy Court for the Southern District of New York. The case was later transferred to the U.S. Bankruptcy Court for the Middle District of Florida. Its Chapter 11 case number is 05-03817.

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