Troubled Dutch retailer Ahold has announced that it has successfully completed the sale of its 100% interest in Paraguayan supermarket company Supermercados Stock to A.J. Vierci, owner of Grupo A.J. Vierci, which operates media industry and trade businesses in Paraguay.
The value of the transaction is believed to be around US$4m. Ahold said the divestment of Supermercados Stock is part of the group’s strategic plan to restructure its portfolio, to divest consistently underperforming assets, and to concentrate on its mature and most stable markets.
Supermercados Stock operated ten supermarkets at year-end 2002 and has been part of Ahold’s portfolio since 1998. At year-end 2002, the company was a subsidiary of Santa Isabel S.A. in Chile and employed approximately 800 employees.