NETHERLANDS/URUGUAY: Judge seeks former Ahold execs for questioning - report
A senior judge is reported to be intending to enlist Interpol to bring former Ahold executives Cees van der Hoeven and Michael Meurs to Uruguay to help with investigations into a share transaction between the Dutch retail giant and its Latin American partner.
Uruguay's Judge Pablo Eguren is looking into what happened to $492m that was paid by Ahold in August last year for 100% control of Disco-Ahold International, Ahold's joint venture with Velox Retail Holdings (VRH), reports the Financial Times.
Three members of the Peirano family, which runs VRH, have been taken into custody in Uruguay on charges of fraud. An arrest warrant has been issued for a fourth member of the family, Juan Peirano, who was chairman of Disco-Ahold until July last year.
Judge Eguren said a formal summons for the two Ahold executives would be made next week. "At this point, we do not know exactly how (the ex-Ahold executives) can help with our investigations. That only becomes clear as the investigation progresses," the Financial Times quoted Eguren as saying.
Last August, Ahold was forced to buy out its partner when VRH defaulted on debt repayments. Sobi, the independent Dutch corporate watchdog, claims the $492m paid by Ahold should have gone to Uruguayan bank Banco Montevideo rather than VRH, because the shares were pledged to the bank as security for loans to VRH.
Banco Montevideo was also owned by the Peirano family. Last June it was placed under the control of the Uruguay central bank because of a liquidity crisis.
Dutch retailer Ahold has announced the completion of the sale of its chain of 198 Wilson Farms and Sugarcreek convenience stores, part of its US subsidiary Tops Markets....
Dutch retailer Ahold has announced that Kerry Underhill has been appointed senior vice president corporate communications, effective 1 July 2005....
Dutch retailer Ahold has reported sales and operating income little changed in the first quarter of 2005, but net income was sharply down because of a one time gain in the first quarter last year....
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....
Supermarket company Giant Food, a subsidiary of Dutch retailer Royal Ahold's US arm Ahold USA, has announced restructuring plans for the remainder of 2005 and 2006....
- Unilever 2016 investor day - the top takeaways
- The key questions for digital strategists in 2017
- Wessanen's move for Spain's Biogran - analysis
- Burger King, Jollibee: foodservice focus, Nov 2016
- Have food promotions reached tipping point?
- General Mills jobs to go in business revamp
- Verlinvest, China Resources invest in Oatly
- B&G acquires pasta sauce group Victoria Fine Foods
- Japan's Nagatanien buys Chaucer Food Group
- Tyson sets up US$150m investment fund