Dow Jones reports that Royal Ahold is selling its Indonesian operations -- 22 stores, plus one under construction -- to local operator PT Hero Supermarket Tbk for the equivalent of about $13 million (US), less the cost of inventory.
The deal is expected to close during the third quarter.
Ahold first entered the Indonesian market in 1996, and the operation became a wholly owned subsidiary last year, with annual sales of close to $40 million (US).
Royal Ahold has already announced that it will sell off all of its South American operations in Argentina, Brazil, Chile, Peru, and Paraguay.
The deal is expected to close during the third quarter.
Ahold first entered the Indonesian market in 1996, and the operation became a wholly owned subsidiary last year, with annual sales of close to $40 million (US).
Royal Ahold has already announced that it will sell off all of its South American operations in Argentina, Brazil, Chile, Peru, and Paraguay.
- KC's View:
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Well, this may take a little starch out of speculation that Tesco might buy Ahold whole…
On the other hand, $13 million (US) doesn’t exactly make a dent on Ahold’s overwhelming debt load of $12 billion (US).
