Chilean retailer Cencosud has said that it will pay around US$100m for Ahold's 97% stake in Chilean supermarket chain Santa Isabel, a third less than originally estimated.

Cencosud, which operates the Jumbo supermarket chain, agreed a deal with Dutch retail giant Ahold last February to buy Santa Isabel, when the price was around $150m.

"The approximate total (for the deal) will be around $100m," Cencosud chief executive Laurence Golborne was quoted by Reuters as saying.

The sale was initially expected to close in April but was delayed when Ahold revealed a $1bn accounting scandal.

Golborne said the deal would now close as soon as Santa Isabel is delisted from the Santiago Stock Exchange.

"I think it will be a question of days," he added.