NETHERLANDS: Ahold stands to lose US$500m on Velox losses
Leading Dutch retailer Ahold has confirmed it faces losses as large as US$496m if its joint venture partner Velox Retail Holding fails to come good on its obligations. If Velox Retail Holding, Ahold's Latin American JV partner, defaults on its obligations, Ahold will have to make a payment. Ahold's "maximum contingent liability" in Argentina is US$496.2m.
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