Hema / Jumbo agreement, but still lacking some detail

All,

Also announced today was the final agreement with Jumbo. The agreement is very positive, if lacking in some key detail.

Main points:

1) Sale to Jumbo of 17 HEMA City stores in NL and Belgium over the next 3 years. Hema plans to replace these stores with new stores in the same catchment areas. Amount of cash consideration to HEMA has not been disclosed.

2) Development of a joint store concept in which Jumbo supply the food range. Time Frame?

3) Sale of a HEMA range in all Jumbo supermarkets and Jumbo.com, including kitchenware, tableware, tea towels, glass and seasonal items and candles. Time Frame?

4) Hema to co-sponsor Jumbo’s Team Jumbo-Visma cycling and skating team (both big sports in NL). Cost?

Wolfgang