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AMSTERDAM - Scandinavian food retailer ICA AB, which is 50 percent owned by Royal Ahold NV, on Friday said it will drop Ahold from its brand name, but dismissed suggestions the change was connected with bad publicity around Ahold.
"The main thing about the name change is to get a simpler structure," ICA spokesman Janne Pettersson said, according to Dow Jones newswires. "The name change doesn't change the ownership situation -- we're still owned 50 percent by Royal Ahold, 30 percent by ICA Forbundet Invest ABN and 20 percent by Canica AS."
The group will be changing its name from ICA Ahold AB to ICA AB.
Other ICA units will also change their names.
ICA said that it had started "entertaining the idea of a name change" back in the fall last year. "For whatever reason, we put it aside for a while," Pettersson said.