Dutch retailer Ahold has said that Canica, its joint venture partner in its Scandinavian joint venture ICA, has notified the third joint venture partner, ICA Förbundet Invest, of its offer to transfer its entire stake of 20% in ICA to ICA Förbundet.
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The move means that Ahold may be forced to buy all or part of the stake if ICA Förbundet does not accept the offer, reported Reuters.
ICA Förbundet has 50 days to consider the offer before Ahold may have to buy the stake itself. Ahold has allocated €2.1bn (US$2.55bn) in case it has to buy out both its joint venture partners.
