Quick Stats

Quick Stats

    You are here

    Argentina's Disco Says Not Part of Latest Ahold Probe

    BUENOS AIRES -- Disco, S.A., the Argentine unit of troubled retail giant Royal Ahold NV, said Tuesday it is not being investigated as part of a judicial probe in the Netherlands of its parent company.

    BUENOS AIRES -- Disco S.A., the Argentine unit of troubled retail giant Royal Ahold NV, said Tuesday it is not being investigated as part of a judicial probe in the Netherlands of its parent company.

    In a statement to the press, the Argentine supermarket chain said that "the Dutch justice system is not carrying out any investigation into the company's accounts."

    The statement went on to say that the Dutch investigation was solely concerned with how Ahold incorporated into its balance sheets the results generated from its joint ventures in the past. Until a year ago, Disco S.A. was one such joint venture.

    On Tuesday, The Wall Street Journal reported that Dutch authorities had launched a criminal investigation into possible falsification of accounts at Ahold. Local press reports had said Disco was included in these investigations.

    Last week, Ahold announced it had completed a companywide internal probe into accounting irregularities -- saying it had unearthed a total of around EUR 970 million in wrong accounting. This included some EUR 8 million related to problematic accounting at Disco.

    Related Content

    Related Content