Forbes – The board of Dutch supermarket group Royal Ahold NV is split over whether to sell off key parts of the business following break-up calls from hedge funds Centaurus Capital and Paulson & Co, The Business newspaper reported, citing a source close to the company.
‘The board is divided. Everything is on the table. It is not smooth sailing, and it’s going to take a little more time,’ the source told the newspaper.
According to the report, the hedge funds believe Ahold, the world’s fourth-largest grocer, has more value broken up and have called for the sale of the core American business, which accounts for 70 pct of group sales and includes the Stop & Shop, Giant and Tops supermarket chains.
An Ahold spokesman declined to comment to the newspaper.
The supermarket chain, which reported better-than-expected second-quarter figures last Thursday, is undergoing a strategy review with proposals expected to be announced alongside the next quarter’s results in December.
