A HOLD BIDS ADIEU TO POLAND

Royal Ahold NV is planning to sell its Polish grocery stores to France-based Carrefour SA for $500 million. The deal was expected to close in the first half of 2007. A hold had earlier this year, announced its intention to sell its Polish operations, which consist of 179 ‘Albert’ supermarkets, 15 ‘Hypernova’ small department stores and four gas stations. These stores combined employ a total of 10,000 people. The acquisition will catapult Carrefour Polska SA (a subsidiary of Carrefour SA’s) to the position of the second largest food retailer in Poland. Meanwhile, Ahold Polska posted revenues of $780.3 million in the FY 2005.

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Source : IIPM Editorial, 2006

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