Ahold has announced it has received a notice from Canica that it has exercised an option to sell its 20% stake in joint venture ICA AB.
Canica has given a price indication of about E1.1bn, but Ahold does not agree on the price asked.
According to the shareholders agreement among Ahold, Canica and the third JV partner, ICA Forbundet, Ahold is obliged to buy the shares Canica is offering once a mutually agreed price can be met.