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Winn-Dixie Sells 12 Supermarkets in the Bahamas for $54 Million

JACKSONVILLE, Fla. -- Winn-Dixie Stores, Inc. said Friday it has completed the sale of its 12 supermarkets in the Bahamas to BSL Holdings Limited, a Bahamian investor group represented by Fidelity Merchant Bank & Trust Limited, for approximately $54 million. All 12 stores are remaining open under their new owners.

The Bahamas stores were not among the Winn-Dixie subsidiaries that filed for bankruptcy in February 2005.

Pursuant to a definitive agreement with BSL Holdings Limited, W-D (Bahamas) Ltd., a wholly-owned subsidiary of Winn-Dixie, has sold all of its shares of Bahamas Supermarkets Limited to BSL Holdings Limited. W-D (Bahamas) owned approximately 78 percent of the common shares of BSL. The remainder of BSL's common shares will remain publicly traded in the Bahamas.

Winn-Dixie has 527 stores in Florida, Alabama, Georgia, and Mississippi.
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