Ahold has struck a deal with private equity group CVC for its stake in fellow Dutch retailer Schuitema.
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Talks over Ahold’s 73.2% stake were first started in January but the world’s seventh-largest retailer said today (23 April) that it had finally agreed a cash-and-stores deal with CVC.
Under the agreement, Ahold will take on 58 Schuitema stores, a batch of real estate and receive EUR185m (US$366m) in cash.
Ahold will also get a 20% indirect stake in Schuitema, although it will not get a seat on the company’s board.
Ahold added that the 58 stores will be converted to its flagship Albert Heijn banner.
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By GlobalData
