POLAND/PORTUGAL: Jeronimo Martins sells stake in Eurocash
Portuguese retailer Jeronimo Martins has said it has agreed to sell its stake in Polish retail chain Eurocash for around €30m in a management buyout.
The company said the sale completed its restructuring plans. Jeronimo Martins now plans to focus on its 600-store Biedronka chain in Poland.
Jeronimo Martins has undergone a restructuring programme, which included the sale of five Jumbo hypermarkets in Poland to Dutch retailer Ahold, to reduce massive debts. Portugal's second-biggest retailer had around €1.3bn in debt at the end of 2001, reported Reuters.
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Dutch retailer Ahold has announced today (Tuesday) that its chief financial officer Hannu Ryöppönen is to leave the company....
Danish based dairy company Arla Foods is opening a new representative office in Hungary....
Dutch retailer Ahold today (Wednesday) announced that it had signed a new €2bn (US$2.5bn) credit facility with a syndicate of fifteen banks. ...
Dutch retail giant Ahold has said its net sales declined 1.0% to €13.0bn (US$16.5bn) for the first quarter of 2005....
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