Ahold to issue EUR 2.5bn in shares

10th November 2003, Comments 0 comments

7 November 2003 , AMSTERDAM — Scandal-hit Dutch retailer Ahold will as expected issue new shares and sell off various subsidiaries to cut at least EUR 5 billion from its total debt, new Ahold chief Anders Moberg said in presenting "disappointing" half-year figures on Friday.

7 November 2003

AMSTERDAM — Scandal-hit Dutch retailer Ahold will as expected issue new shares and sell off various subsidiaries to cut at least EUR 5 billion from its total debt, new Ahold chief Anders Moberg said in presenting "disappointing" half-year figures on Friday.

New chief financial officer Hannu Ryöppönen said Ahold had EUR 10.8 billion in debt at the end of the half-year and that the figure must be reduced under double figures by the end of the year, an NOS news report said.

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