At December 31, 2011 the total consideration transferred amounted to (i) €574 million in cash, net of €21 million cash acquired,
of which €100 million was held in escrow by the seller and (ii) €20 million held in escrow by the Group (see Note 12). The
acquired business, in combination with the Group's existing operations in Greece and Romania, makes D elhaize Group a leading
retailer in Southeastern Europe. At acquisition date, Delta Maxi operated 485 stores and 7 distribution centers in five countries in
Southeastern Europe. Delta Maxi was included into Delhaize Group's consolidated financial statements as of August 1, 2011 and
is part of the Southeastern Europe Asia se gment (see Note 3). Delhaize Group incurred approximately €11 million acquisition-
related costs in 2011 that were included in selling, general and administrative expenses in the "Corporate" segment.
During the first half of 2012, the G roup completed the purchase price allocation of the transaction and revised the provisional
amounts previously recognized to reflect additional information obtained on the acquisition date fair values for assets acquired
and liabilities assumed. As part of this process, the Group completed its assessment and quantification of legal contingencies
that were assumed as part of the acquisition and recognized corresponding provisions in accordance with IFRS 3. The
contingent liabilities mainly related to pending legal disputes for a number of property ownership related cases. The agreement
with the former owner of Delta Maxi contains specific indemnification clauses for all known significant contingencies and,
consequently, the Group recognized indemnification assets of €33 million for such contingencies as it expects to be
compensated by the former owner for any potential losses. As a result, acquisition date goodwill increased from €467 million to
€507 million. The €20 million held in escrow by the Group was entirely released through the year.
(in millions of August 1, 2011
Cash paid 595
Cash held in escrow 20
Total consideration transferred 615
I ndem nifica tion assets (33)
Total consideration 582
The above noted adjustments have been, in accordance with the guidance provided in IFRS 3, recognized in the consolidated
financial statements of Delhaize Group as if the accounting had been completed at the acquisition date, and comparative
information has been revised correspondingly. The revision of acquisition date fair values did not have a significant impact on the
profit and loss of the year ended December 31, 2011.
The table below summarizes the total consideration paid for Delta Maxi and the amounts of the assets acquired and liabilities
assumed recognized at the acquisition date, comparing the provisional fair values (as disclosed in our 2011 an nual report) and
revised final acquisition date fair values.
Au
j st1, 2011 Ac
date Fair Val
Provi
Fair Va
(1)
Intangible assets
Prope rtyplant and equipr
Receivables
Oth er assets
Cash and cash e
Assets classified
Long-term debt, i
Obligations unde
Accounts payable
Oth e r lia bilities
Deferred tax liabilities
Total identified net a
Non-controlling intere
Goodwill arising on a
Tota l
sd at the props
194
426
44
24
69
59
9
21
15
861
(211
(8
(132
(14
(259
(37
(24
176
(28)
467
Final Fa
218
394
34
24
68
54
9
21
16
838
(211)
(8)
(132)
(45)
(261)
(69)
(22)
(15)
507
615
582
(1)
As
2011
92 DELHAIZE GROUP FINANCIAL STATEMENTS'12
