Ahold has sold its Indonesian Tops operation to the region’s Hero supermarkets for 12m euros as the Dutch-based retailer tries to reduce debt in the wake of recent financial accounting problems.
The deal involves 23 supermarkets and two distribution centres and will be added to Hero’s existing portfolio of 200 stores throughout Indonesia.
Ahold said the move did not include staff its Indonesian headquarters and that it is “committed to meeting its obligations to these associates”.
Ahold Tops Indonesia had unaudited net sales of 37m euros in 2002 and employs 1,600 people in the region.
The deal involves 23 supermarkets and two distribution centres and will be added to Hero’s existing portfolio of 200 stores throughout Indonesia.
Ahold said the move did not include staff its Indonesian headquarters and that it is “committed to meeting its obligations to these associates”.
Ahold Tops Indonesia had unaudited net sales of 37m euros in 2002 and employs 1,600 people in the region.
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