Any delay would be "hugely embarrassing" and could further undermine investor confidence, says Reuters, "at a moment when the group may be forced to ask shareholders to cough up more cash."
Ahold reportedly will unveil a $6.9-billion financing package shortly, including a two-billion-euro rights issue of new stock, a convertible bond of about the same size and another two billion in asset sales. However, a convertible bond issue is considered unlikely because of Ahold's weak credit ratings and ongoing judicial and regulatory probes into profit overstatements of approximately $1 billion, primarily at the Columbia, MD, based U.S. Foodservice (USF) broadliner subsidiary.
Meanwhile, at ID press time, it was expected that a new USF ceo would be announced within another week.
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