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Minneapolis-based Supervalu filed Amendment No. 1 to its Form 10 Registration Statement with U.S. Securities and Exchange Commission in connection with the anticipated spin-off of its Save-A-Lot business into a separate, publicly traded company.
With the filing, Supervalu continues preparations to separate Save-A-Lot, although no assurances are given that the separation will come to fruition or any change in the wholesaler’s business model will occur.
The amendment includes recent financial results for the division as well as expectations immediately following a spin-off that Supervalu stockholders would directly own about 60 percent of the outstanding shares of common stock of Save-A-Lot while Supervalu would retain the remaining 40 percent.
The filing is the next step in the spin-off process that was first announced in July 2015.