Dutch retailer Ahold has said it expects to generate over €3bn (US$3.58bn) from divestments by the end of the year, more than its target of €2.5bn.

In an interview with German media, chief executive Anders Moberg also said that the company does not plan to sell its US Foodservice business, but that it would re-examine its options in two or three years' time, reported Reuters.

The company also said its online grocery retail business was growing at a rate of 25% a year in the Netherlands and in the US, and was approaching profitability.

Since the beginning of 2005, Ahold has completed the sale of its Deli XL, G Barbosa, Bi-Lo and Bruno's units and over 200 Tops stores.