Schuitema to Sell 56 Stores to Ahold

Amsterdam, Netherlands Dutch supermarket group Schuitema plans to sell 56 stores to Royal Ahold, which holds a majority stake in the company, a Schuitema spokeswoman told ANP-Reuters Tuesday.

In January, Ahold said it was negotiating with private-equity firm CVC Capital Partners about selling its 73% stake in Schuitema. It said the consideration for the deal would include cash and the transfer of more than 50 stores from Schuitema to Ahold.