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Ahold to divest winery joint...

Ahold to divest winery joint venture

14 Apr 2005
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The Dutch company said that the it is currently in negotiations to sell its stake in Bodegas Williams & Humbert to José Medina y Cía S.A.

14/04/05 Ahold is set to divest its 50% stake in Spanish winery joint venture Bodegas Williams & Humbert, S.A as part of its divestment program. The Dutch company said that the it is currently in negotiations to sell its stake to José Medina y Cía S.A. The company recently divested its BI-LO/Bruno's Arena, resulting in a EUR 7 million decrease in the company's net loss in 2004.

Ahold reported net income for 2004 under US GAAP of EUR110 million versus a net loss of EUR 436 million under Dutch GAAP. This more favorable US GAAP result mainly is a consequence of differences in the accounting for divestments and the ICA put transaction under US GAAP versus Dutch GAAP.

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