Three ex-Ahold bosses have received suspended sentences and
€670,000 worth of fines from a Dutch court this week, in Europe's
largest ever executive fraud case.
Guilty or not guilty? The fate of four former Royal Ahold bosses
hangs in the balance today, as a Dutch court must deliver the
verdict on 2003's largest retail fraud case.
Ahold's acquisition of 56 stores in the Czech Republic is part of
the company's plans to expand its position in central Europe
following its complete withdrawal from the Spanish and Asian
markets.
Danish brewer Bryggerigruppen has signed a deal to give it two new
breweries with strong local brands, while Russian food scientists
have designed a bread recipe that can be stored for three years and
Dutch retailer Ahold has sold...
Recovery at Dutch retailer Ahold is still well on track, but the
impact of disposals, and the continuing decline of the US dollar
against the euro, pushed down the headline sales figure in 2004.
But with just a few more planned disposals...
Ahold has moved a step closer to completing its programme of
disposals aimed at plugging the fraud-related €1 billion hole in
its accounts. The sale of BI-LO and Bruno's in the US will bring in
up to $660 million, and leaves...
Ahold has completed the sale of another of its international units,
in Spain, adding €685 million to its bank balance as it continues
its restructuring in the wake of a €1 billion fraud scandal,
writes Chris Jones.
Carrefour, the giant French retail group, has extended its presence
in the Polish market with an agreement to buy 13 stores formerly
operated by Dutch rival Ahold, writes Chris Jones.
Ahold's management remains stoically bullish about the Dutch
retailer's chances of recovering from the double whammy of fraud
and poor performance, but the company's latest set of results show
that the journey is likely...
Ahold has reached an agreement with its Scandinavian joint venture
partner ICA Förbundet over the acquisition of a 20 per cent stake
in the ICA AB retail unit previously owned by the Norwegian firm
Canica.
Ahold, the Dutch retail group, faces a serious setback in its
efforts to rebuild its financial credibility after its Nordic joint
venture partner Canica decided to sell its 20 per cent stake in the
Swedish ICA group - a stake which...
As Dutch retailer Ahold sifts through more than 50 offers for its
Spanish retail business, the group could find itself faced with the
enforced acquisition of a 20 per cent stake in Nordic partner ICA.
But despite the wholesale changes...
It is six months since Dutch retail group Ahold announced plans to
sell its Spanish supermarket business as part of its wider
restructuring programme, and a number of foreign and domestic
players have expressed an interest in buying...
The widespread restructuring of Ahold's business announced two
years ago looks set to continue to impact results at the Dutch
retail group this year, with first quarter results hit by disposals
and currency exchange rates.
Troubled Dutch retailer Ahold ended 2003 with losses of €1 million
- a major improvement on the €2.1 billion losses a year earlier -
but stressed that there would be further hardship ahead in 2004
before the real benefits of its Road...
Eroski, the Basque retail group, is to rebadge all its 804
supermarket outlets this month after its joint venture with the
Consum group was wound up earlier this year. The company will take
advantage of the change to introduce a new...
Dutch retail group Ahold has finally negotiated the sale of its
Argentine unit Disco - to Cencosud, the Chilean retailer which had
originally agreed to buy the company back in November. After
withdrawing entirely from the Asian market...
Just days after completing the sale of part of its Brazilian unit,
Dutch retail group Ahold has announced the sale of its last remaining
Asian business, Thailand-based CRC Ahold. The US and Europe will
now be the sole focus of Ahold's...
Ahold's plans to dispose of its entire Latin American store network
have been stalled for some time by delays in the core markets of
Brazil and Argentina - but this could soon be about to change.
At a time when most of its major international rivals are busy
expanding their businesses in both new and existing markets, Dutch
food retail group Ahold is continuing to sell off a number of
business units in an attempt to revitalise...
Dutch retail group Ahold is continuing the sale of non-core assets as
part of its restructuring plan - and in a bid to plug the €1
billion gap in its accounts left by a major accounting fraud.
Faced with a new shareholder revolt over the exact role the
previous management team played in the widespread fraud at the
company last year, Dutch retail group Ahold yesterday pledged
that it would reclaim part of the bonuses paid...
Anders Moberg, chief executive of Dutch retail group Ahold, has
called for a group of disillusioned shareholders in the company to
back down from their threat of legal action in the interests of the
company's future development.
Ahold's worries
have hit the headlines throughout 2003, and while it now appears to
be on the road to recovery after revelations of fraud and losses of
€1 billion, it is still not all plain sailing for the Dutch
retailer.
Cencosud, the Chilean supermarket group, has ended its exclusive
talks with Dutch retailer Ahold over the acquisition of the
latter's Argentinian unit, Disco, after failing to reach an
agreement.
If the market is still waiting to see who emerges as potential
buyers for Ahold's Spanish operations, put up for sale earlier this
year as part of a major restructuring plan, the sale of the
company's Latin American businesses...
The chances of Anders Moberg, the new chief executive of Ahold,
achieving the bonus targets announced yesterday look increasingly
unlikely as the Dutch supermarket group today announced a further
slide into the red for the first nine...
Ahold is to sell its Argentine unit Disco to Chile's Cencosud for
an undisclosed sum, drawing a line under a troubled 18 months at
the unit. The Dutch firm is still negotiating the sale of other
units in Brazil, Peru and Paraguay.
Ahold has sold two underperforming Polish hypermarkets to French
rival Carrefour for an undisclosed sum as part of its drive to
focus on profitable businesses. But the company has shown no signs
of withdrawing from that market altogether.
Ahold is to sell off its Spanish retail operations as part of a
long-awaited recovery plan announced today. The programme will also
include a €2.5bn rights issue which will help pay down debt, and
significant efficiency savings designed...
Ahold's financial fortunes are going from bad to worse. Already
facing losses of €1bn for 2002, the current year is unlikely to
shape up any better, at least if today's third quarter figures are
to be believed.
Already burdened with losses of €1bn under Dutch accounting rules,
retailer Ahold has today reported that the US accounting system has
effectively pushed it even further into the red - some €4.3bn to be
precise. And there is little...
Embattled Dutch retailer Ahold has finally published its
long-awaited audited results for 2002, revealing the full effect of
the widespread accounting fraud unearthed earlier this year - a
loss of over €1bn.
Ahold is to publish its audited results for 2002 on Thursday -
restated following the revelation of accounting fraud earlier in
the year. The figures are unlikely to make encouraging reading, and
shareholders and investors alike will...
Henny de Ruiter, chairman of the Supervisory Board at embattled
Dutch retailer Ahold, has agreed to stand down, bowing to pressure
from shareholders. De Ruiter was blamed for agreeing a €10 million
pay package for new CEO Anders Moberg,...
Wal-Mart could be lining up a bid for Ahold's operations in Brazil,
Argentina and Peru as it seeks to push into markets with greater
growth potential than the US.
Embattled Dutch retail chain is facing a new investigation to add
to the ones currently being carried out by the US authorities. But
this probe is much closer to home, being carried out by the public
prosecutor in Amsterdam.
Frank Curci, head of the Tops Markets supermarket group in the US
has carried the can for the $29 million in accounting
irregularities recently uncovered at the Ahold unit - the latest in
the ongoing saga which has seen the rapid...
The financial scandal at Dutch retail group Ahold has deepened with
the company revealing that its Tops supermarket unit in the US had
also overstated profits in much the same way as the US Foodservice
subsidiary. All of which means...
Ahold's troubles continued in the first quarter of the current year
with sales dropping 11 per cent compared to 2002, mainly due to
exchange rate declines. But organic growth at most units was solid,
a small ray of hope for the...
There are numerous potential candidates to acquire the South
American operations of the troubled Ahold group, but as market
analysts Euromonitor point out, such an acquisition would not be
without considerable risks. The debate is...
Jim Miller, the head of Ahold's US Foodservice arm, has finally
stood down from the post he has held since 1997 after coming under
increasing pressure to carry the can for the accounting scandal
which has rocked the unit in recent...
The extent of the accounting fraud at US Foodservice, a subsidiary
of Dutch group Ahold, was greater than originally thought, the
company reported yesterday. Initial estimates of $500m were low:
the actual figure is nearer $880m.
Ahold is to sell its Indonesian supermarket chain Tops to the local
market leader Hero, the latest phase of the Dutch group's programme
of disposals of non-core assets.
Ahold has stepped up the pace of its disposal programme. After the
decision to withdraw from Chile in February, the Dutch retailer has
this week said it plans to quit Brazil, Argentina, Peru and
Paraguay. And Asia and Eastern Europe...
Ahold's much publicised financial concerns have prompted
speculation that Europe's second largest food retail group could
become a potential takeover target. Both Carrefour and Tesco have
been linked to the Dutch group,...
Ahold, the Dutch retailer at the centre of a massive accounting
scandal, has appointed an interim CFO to try and stabilise the
business. But claims that it knew of the US accounting
irregularities as early as 2001, and that other...
