PORTUGAL: Jeronimo Martins may issue more debt - report
The chairman of the Portuguese retail group Jeronimo Martins has said the company may have to issue more debt to finance its EUR1bn (US$1.3bn) investment programme to 2009 and to buy out Ahold's 49% stake in the supermarket chain JM Retalho.
"JM has today a momentum that will allow it to buy out Ahold and to continue with growth programmes, namely in Poland," Alexandre Soares dos Santos said in an interview with Diario Economico, adding that the Ahold deal, thought to be worth in the region of EUR400m - EUR600m, should be finalised by the middle of next year.
Soares dos Santos also said that a reorganisation of the company is planned for June 2007, which may also lead to a flotation of its expanding Polish discount operation Biedronka on the Warsaw stock exchange.
Jeronimo Martins expects to increase turnover to EUR6bn this year, from EUR4.2bn in 2005.
Dutch retail giant Ahold wants to amend its articles of association in a bid to return EUR3bn (US$4bn) to its shareholders....
US retailer A&P has appointed Douglas Palmer VP of its own-brands business....
Jerónimo Martins Retail (JMR) has confirmed that it is in ongoing talks with Royal Ahold concerning the purchase of Ahold's stake in JMR's retail operations....
Carrefour plans to spend PLN1bn (US$359m) as part of a drive to become Poland's largest food retailer, the French group has told just-food....
Dutch retail giant Ahold has reaffirmed its commitment to the US market after its strategy to revitalise stores there drove a rise in underlying first-half revenue....
Dutch retail giant Ahold has seen the weak dollar weigh on revenue during the first quarter of the year....
Former Ahold president and CEO Anders Moberg is to join Dubai-based retail group Majid Al Futtaim as chief executive....
Shares in Dutch retailer Ahold were up in morning trade today (3 May) as the market responded positively to the sale of Ahold's US Foodservice unit....
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