Kimco Realty Corp. (NYSE:KIM), the nation’s largest owner and operator of neighborhood and community shopping centers, announced that it is a participant in the transaction reported earlier today by SUPERVALU INC. (NYSE:SVU) through its investment in a consortium led by Cerberus Capital Management, L.P. The company will hold an interest of approximately 15 percent in this investment group that originally acquired a portion of Albertsons, Inc. in 2006. Kimco anticipates funding its investment of up to $76.5 million from existing cash balances, existing credit facilities and cash from operations.
Commenting on the transaction, Kimco CEO Dave Henry said, “We are excited about adding to our successful investment in Albertsons which will reunite all of the Albertsons stores, and expand the proven management skills of Bob Miller and his team to the other SUPERVALU brands and operations.”
Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that owns and operates North America’s largest portfolio of neighborhood and community shopping centers. As of Sept. 30, 2012, the company owned interests in 922 shopping centers comprising 135 million square feet of leasable space across 44 states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisition, development and management for more than 50 years. For further information, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.
Vice President, Investor Relations and Corporate Communications
Kimco Realty Corp.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here