Amsterdam, 23 April 2008 - Ahold today announced that it has reached agreement on the sale of its 73.2% interest in Schuitema N.V. to private equity firm CVC Capital Partners.
As part of the transaction, Ahold will obtain a 20% indirect interest in Schuitema without supervisory board representation. The enterprise value for 100% of Schuitema N.V. on which the sale has been based, is € 950 million. The consideration for the total transaction consists of 58 stores, real estate, and a cash amount of approximately € 185 million.
The closing of the transaction is subject to certain customary conditions and is expected to take place in the second half of the year. The acquired stores will be converted into Albert Heijn stores. The transfer of the stores from Schuitema to Albert Heijn will take place in several tranches, and is expected to start at closing and conclude before year end.