Troubled Dutch retail giant Royal Ahold is in talks with Hong Kong retailer Dairy Farm International over the sale of Ahold’s Tops supermarket chain in Malaysia, according to a report in Business Times Asia.
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Ahold, which is at the centre of an accounting scandal, is seeking to sell non-core and underperforming operations in order to cut its €12.4bn (US$13.3bn) debt, reported Dow Jones International News.
Ahold’s Asian operations are currently unprofitable and the retailer has already sold stores in China and Singapore in the past.
Ahold announced today it is to divest its South American operations. To read more, click here.
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