Wal-Mart-owned ASDA Stores is set to enter the Northern Ireland market after agreeing to buy 12 stores from WM Morrison Supermarkets.
Bradford-based WM Morrison is selling the former Safeway stores to concentrate on its mainland UK operation.
It announced this morning that it has agreed to sell the stores with the benefit of four development agreements for £73.6m in cash plus the value of fuel stocks of the properties on completion.
The properties are located in the following locations: Dundonald (East Belfast), Cookstown (Mid Ulster), Omagh (West Tyrone), Enniskillen (Fermanagh & South Tyrone), Strabane (West Tyrone), Kilkeel (South Down), Shore Road (North Belfast), Newtownards (Strangford), Ballyclare (East Antrim), Coleraine (East Londonderry), Bangor (North Down), Westwood (West Belfast).
The deal is conditional upon Office of Fair Trading approval and the obtaining of third party consents.
ASDA, which is the second largest grocer in the country with 279 stores in England, Scotland and Wales, said it intends to carry out a £30m refurbishment programme on the stores.
References: EGi News 06/06/05
