Delhaize-Salim retail

Wed, 25 Jun 1997 | Source: REUTERS

BRUSSELS (Reuter): Belgian retailer Delhaize has signed a long-term cooperation agreement with Salim Group to develop a supermarket chain in Indonesia, said it expects 50 "Super Indo" stores to be opened in five years time.

"There are already 10 stores. We see two more opening this year, and three to five next year," Delhaize's Chief Financial Oficer Jean-Claude Coppieters told Reuters.

He added that the growth rate of the Indonesian chain over five years was expected to be about half that foreseen for Delhaize's Thai supermarket venture, announced on Monday, which aimed to have over 100 stores in that time.

Delhaize said on Monday it would initially invest 135 million baht or 190 million Belgian francs in the Thai venture,

But Coppieters said the deal with Indonesia's Salim Group would not involve any capital investment from Delhaize, because the country did not allow it.

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