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AMSTERDAM -- Ahold, which is selling assets to reduce its debt, has sold the Santa Isabel supermarkets in Peru to Grupo Interbank and a group of investors headed by Nexus Group for an undisclosed sum, according to Reuters.
The sale of 100 percent of the shares in the Peruvian assets will occur over the Lima Stock Exchange. It is expected that the transaction will be completed before the end of the year.
Interbank is one of Peru's biggest financial groups, while Nexus is an investment group with activities in the entertainment and tourism sectors. Santa Isabel is the second-largest retailer in Peru, with 35 stores and some 5,000 employees.
Ahold, the world's No. 3 food retailer and food services group, earlier sold the Chilean assets of Santa Isabel to Cencosud and the supermarkets in Paraguay to A.J. Vierci. Ahold's intended sale of the Disco operations in Argentina are being held up by legal tussles linked to claims by creditors to a former business partner of the Dutch company. In Brazil Ahold is selling such assets as the Bompreco stores and the Hipercard credt card organization.