26 may 2010 / EUR 63.34

We are introducing Delhaize with a PLUS code. Besides the upturn of its operations in Belgium, the group offers a favourable geographical mix (69% of business in the USA), in areas where the economic recovery and return to food price inflation seem to be taking place more quickly and more visibly than in Europe. These factors, together with a strong exposure to the $ whose rising parity has not been discounted in all the estimates, make the valuation particularly attractive.