US: Supervalu Offers More Details Of Save-A-Lot Spin-Off

Supervalu has offered more details of its proposed plans to spin off the Save-A-Lot banner.

The grocer said it will retain around 40% of the common stock of Save-A-Lot, while Supervalu shareholders will directly hold a 60% stake.  Supervalu added that it will reduce its own stake to 20% within two years, matching the figure it had first announced in January 2016.

Supervalu has not formally launched a divestment process, and the latest statement reiterated that there is no guarantee the move will go through.