The European Commission has granted clearance under the EU Merger Regulation for the acquisition of retail group Ahold Iberia by private equity firm Permira Holdings, based in Guernsey.
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Ahold Iberia, which belonged to Dutch retail giant Ahold, is the holding company of Ahold Supermercados, the seventh-largest food retailer in Spain with 572 stores.
Ahold announced at the beginning of October that it had agreed to sell its Spanish operations to Permira for around €685m (US$907.8m).
“This divestment is part of our ‘Road to Recovery’ strategy to optimise our portfolio and to strengthen our financial position,” Anders Moberg, Ahold’s president and CEO, said in October.
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