Ahold, the Dutch retailer, has announced it has successfully completed the sale of its Spanish retail arm to Permira, a leading European-based private equity firm.

The original announcement of the transaction was announced by Ahold and Permira on October 3, 2004, but was subject to price adjustments and certain conditions.

Ahold operated about 600 stores on the Spanish mainland and the Canary Islands with net sales of E2bn for 2003.

This paves the way for ex-Safeway boss Carlos Perez Criadó to take over in the coming months.