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AMSTERDAM -- As a financial accounting scandal unfolds around Royal Ahold NV, its acting chief executive maintains the company has no plans to divest portions of its international retail empire, according to Dow Jones.
"We have no intention to sell large units or break up the company at this point in time," Supervisory Board Chairman Henny de Ruiter said today during a conference call with analysts.
Ahold said earlier Monday that 2002 earnings under Dutch and U.S. Generally Accepted Accounting Procedures will be lower than previously indicated.
The Dutch company cited income overstatements related to promotional allowance programs at its U.S. Foodservice units that are still being investigated.