Ahold Expands Probe Of Latin American Unit
AMSTERDAM - In light of the ongoing investigations at Ahold, the company says it has reopened an investigation into irregular transactions at its Argentine subsidiary, Disco, and extended the probe to include all the unit's Latin American operations. The company says the probe is further intended to ensure that Disco's books and records are in compliance with all applicable regulations.
Disco has requested from the Buenos Aires Stock Exchange (Bolsa) and the Argentine Securities Regulatory Authority (CNV) a further extension to May 12, 2003, of Disco's 2002 financial statement filing deadline.
As reported on February 27, 2003, the results of the initial investigation into transaction irregularities conducted by Ahold showed that there was no material adverse impact on Ahold's financial results. The company, the world's third-largest food retailer, says it has no reason to believe that the latest review will alter this finding.
Disco has requested from the Buenos Aires Stock Exchange (Bolsa) and the Argentine Securities Regulatory Authority (CNV) a further extension to May 12, 2003, of Disco's 2002 financial statement filing deadline.
As reported on February 27, 2003, the results of the initial investigation into transaction irregularities conducted by Ahold showed that there was no material adverse impact on Ahold's financial results. The company, the world's third-largest food retailer, says it has no reason to believe that the latest review will alter this finding.