Dutch retail giant Ahold has announced that it has appealed against an Argentine judicial order related to antitrust approval of the sale of its Argentine supermarket unit Disco to retailer Cencosud.
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If enforced, Ahold said the order, made by a federal court in San Rafael, Mendoza, Argentina, could lead the two companies to reverse the deal, at least temporarily.
Ahold said the order was made on the basis of an allegation that Disco and Cencosud have infringed Argentine antitrust laws by partially completing the transaction prior to obtaining antitrust approval. On 1 November Ahold transferred around 85% of the shares of Disco to Cencosud.
The Dutch company claims that the Argentine government had confirmed in a previous appeal in this case that antitrust approval could also be obtained after completion of the transaction.
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By GlobalData
