Delhaize is to sell its 49% share in the Singapore food retailer Shop N Save to Cold Storage Singapore owned by Hong Kong-based Dairy Farm International.

Dairy Farm will pay 21.9m euros for Shop N Save, which operates 35 stores in the region. Under the same agreement Delhaize’s Dutch unit ‘The Lion’ and Singaporean listed company QAF will sell their 51% joint venture in CSS to Dairy Farm for 10m euros.