Ahold to reveal refinancing plans
Embattled Dutch grocery giant Ahold has said it will unveil a refinancing package later today.
The group, struggling to recover from a €970m accounting scandal, is expected to announce a €2bn rights issue plus significant divestments.
The group has also published a revised timetable for reporting including a trading update on third quarter sales for 28 October and publication of the annual report on 31 October.
Hnnua Ryopponen, chief financial officer, said: ‘Resources at Ahold were stretched to the limit to provide shareholders with the 2002 financial results. Preparing the next set of financial data will require sufficient timee to ensure that they are completed with the degree of thoroughness and precision expected by shareholders.’