Royal Ahold, under siege because of an accounting scandal and under pressure to publish restated 2002 financials, has said that it will make public the 2002 annual figures next week - though it did not specify a date or time.
If it does not publish the figures by the end of the month, it will lose access to some of the financing that is getting through current financial difficulties - including a $12 billion debt load.
Meanwhile, Ahold said this morning that it has completed the sale of its Paraguay business, Supermercados Stock S.A., to A.J. Vierci, a local businessman.
This move is part of Ahold's strategy of getting rid of non-core businesses.
If it does not publish the figures by the end of the month, it will lose access to some of the financing that is getting through current financial difficulties - including a $12 billion debt load.
Meanwhile, Ahold said this morning that it has completed the sale of its Paraguay business, Supermercados Stock S.A., to A.J. Vierci, a local businessman.
This move is part of Ahold's strategy of getting rid of non-core businesses.
- KC's View:
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In late 1960, President-elect John F. Kennedy, asked how he would tell the world that he had decided to name his brother Robert as Attorney General, said that he might open his front door at two in the morning and whisper, 'It's Bobby."
We suspect that this might be the same strategy that Ahold is considering…and that the news it will release won't be encouraging to investors.
