PORTUGAL: Ahold to press on with Portuguese exit
Dutch retail giant Ahold has insisted it will press on with plans to sell its stake in Portuguese venture Jeronimo Martins Retail (JMR).
Ahold moved to quash reports today (21 September) that sparked uncertainty over whether it would offload its 49% stake in JMR, as the company had previously indicated.
According to Reuters, the chief executive of Jeronimo Martins - which holds a 51% stake in the venture - had questioned whether Ahold would indeed exit the business.
However, Ahold told just-food today (21 September) that it still intends to sell its stake in JMR, as part of a company strategy to realign its business. "There is no change in our plans to progress with the sale," an Ahold spokesman said.
Last year, Ahold said it would sell off parts of its business and exit ventures under a wide-ranging company review.
The programme has seen Ahold sell its Polish stores to Carrefour and offload its US Foodservice business.
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