Ahold faces criminal investigation
Supermarket group co-operating with Dutch authorities
July 7 2003
Netherlands-based supermarket giant Ahold is facing a criminal investigation by the Dutch authorities.
Ahold reported that a search was conducted at its corporate headquarters last week as part of the investigation by the Public Prosecutor in Amsterdam.
The prosecutor said investigation relate to the consolidation of a number of Ahold’s global joint ventures.
Ahold has been under investigation by the Dutch and US authorities since accounting irregularities emerged at its US Foodservice business earlier. As the problems spreads to take in other business units, Ahold’s difficulties prompted the departure of a number of senior company figures.
Ahold said it has given its full cooperation to the investigation, as it has also been doing with investigations by the US Securities and Exchange Commission and the US Department of Justice.
A statement added: “Ahold deems it inappropriate to give any further information concerning these investigations while their outcomes are pending.”
