Portuguese retailer Jeronimo Martins has said it is prepared to buy the 49% stake in its main unit, JM Retalho, that is currently held by Ahold, in case the troubled Dutch retailer needs to sell up.

The chairman of Portugal’s Banco Privado Portugues, Joao Rendeiro, has already said that his company is interested in Ahold’s JM Retalho stake. If Ahold does decide to sell the stake, Jeronimo Martins has an option to buy it, reported the Portuguese News Digest.