Ahold renews Disco investigation
Dutch supermarket giant Ahold today announced it will undertake a further review of certain transactions and related matters at its Argentine subsidiary Disco.
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Ahold in February discovered a $500m (£317m) hole in the accounts of its US subsidiary and simultaneously reported a suspicion about Disco’s results.
After an investigation by external forensic accountants it cleared the Argentinean issue three days later, stating there would ‘be no material impact on Ahold’s financial results’.
The supermarket chain today renewed the Disco investigation, explaining the decision was taken ‘in light of the ongoing investigations at Ahold’. It further intends to ensure that Disco’s books and records are in compliance with all applicable regulations.
It has requested an extension to 12 May of Disco’s deadline for filing its 2002 report from the Buenos Aires Stock Exchange and the Argentine Securities Regulatory Authority.