Reuters reports that Royal Ahold’s plan to sell its Santa Isabel supermarket chain in Chile to locally owed Cencosud may hit a roadblock.
Chilean retailer D&S said yesterday that it may try to legally delay any sale until Ahold pays it the equivalent of $90 million (US) that the company is owned dating back to the sale of assets in Argentina in 2000. Ahold reportedly wants to pay off the debt in devalued Argentine currency, which would lower the debt to about $45 million.
Ahold has until the end of this week to repay the debt in full, according to D&S, at which point it will instigate legal action.
Chilean retailer D&S said yesterday that it may try to legally delay any sale until Ahold pays it the equivalent of $90 million (US) that the company is owned dating back to the sale of assets in Argentina in 2000. Ahold reportedly wants to pay off the debt in devalued Argentine currency, which would lower the debt to about $45 million.
Ahold has until the end of this week to repay the debt in full, according to D&S, at which point it will instigate legal action.
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