International food retailer and foodservice operator Ahold has assumed full control of Disco Ahold International Holdings (DAIH), its former Latin American joint venture company with Velox Retail Holdings (VRH). Ahold announced its intention on 17 July to terminate its shareholders' agreement with VRH. Following VRH's 16 July default on outstanding indebtedness owed to certain banks, Ahold was required to take over loans and purchase substantially all of VRH's shares in DAIH for a total consideration of about US$490m.