Notes: 3
108
Ahold Annual Report 2003
Financial Statements
substantially all of VRH's shares in DAIH (44.1%) for a total cash consideration of USD 448 (EUR 453),
thereby assuming full ownership of DAIH. Furthermore, a loan receivable of USD 5 (EUR 5) has been fully
written off. The acquisition resulted in a loss of EUR 372, as also discussed in Note 9. As noted above,
in 2003, Ahold sold its Chilean, Paraguayan and Peruvian operations of DAIH's subsidiary, Santa Isabel.
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of
the DAIH acquisition:
At August 9, 2002
Intangible assets
12
Goodwill
85
Tangible fixed assets
525
Financial assets
189
Current assets
266
Total assets
1,077
Provisions
(102)
Non-current liabilities
(498)
Current liabilities
(392)
Total liabilities assumed
(992)
Consideration after loss on related party default guarantee
85
The acquired intangible assets have an aggregate weighted-average useful life of approximately four years.
The intangible assets include software (three-year weighted-average useful life) and key money (five-year weighted-
average useful life). The EUR 85 of goodwill was assigned to the retail trade segment.
During 2002, Ahold also acquired the following six individually insignificant entities plus the remaining 30%
of the outstanding shares of PSP Group, a supermarket company in Indonesia, for a total cost of EUR 380, which
was paid in cash and assumed debt. Goodwill recognized in these transactions amounted to EUR 232. Goodwill
was assigned to the retail trade and foodservice segments in the amounts of EUR 154 and EUR 78, respectively.
Allen Foods: In December 2002, USF acquired Allen Foods, Inc., a broadline foodservice distributor in the
U.S., for USD 90 (EUR 89). The acquisition resulted in goodwill of USD 63 (EUR 63), which was assigned
to the U.S. Foodservice segment.
Santa Isabel: In October 2002, Ahold, through its wholly-owned subsidiaries Gestion, Rentas e Inversiones
Apoquindo Limitada and DAIH, completed its tender offer for the outstanding shares of common stock and
ADSs of Santa Isabel in Chile. In the cash tender offer 190 Chilean Pesos
was offered per Santa Isabel share for a total amount of EUR 41. Ahold's ownership in Santa Isabel increased
from 414,393,680 shares, or approximately 70.2% of the total outstanding shares, to 572,525,100 shares,
or approximately 97% of the total outstanding shares. The tender offer resulted in goodwill in the amount
of EUR 28, which was assigned to the South America retail trade segment. As noted above, Ahold sold
its Chilean, Paraguayan and Peruvian operations.
Lusitana: In September 2002, Ahold, through its wholly-owned subsidiary Bomprepo S.A. Supermercados
do Nordeste ("Bomprepo"), acquired nine supermarkets and related assets in Brazil from Supermercados
Lusitana Ltda for a total cash consideration of EUR 7. The acquisition resulted in goodwill of EUR 6, which
was assigned to the South America retail trade segment.
Lady Baltimore: In September 2002, USF acquired certain assets of Lady Baltimore Foods Inc., a broadline
foodservice distributor in the U.S., for approximately USD 29 (EUR 29) in cash. The acquisition resulted
in goodwill of USD 15 (EUR 15), which was assigned to the U.S. Foodservice segment.
Indonesia: In September 2002, Ahold acquired the remaining outstanding shares (30%) of PSP Group
for approximately EUR 2 in cash. The acquisition resulted in goodwill of EUR 2, which was assigned
to the Asia Pacific retail trade segment.
Jumbo Hypermarkets: In August 2002, Ahold, through its wholly-owned subsidiary Ahold Polska Sp. Z.o.o.,
completed its acquisition of Jumbo hypermarkets in Poland from Jerónimo Martins Sp. Z.o.o. for EUR 23
in cash. The acquisition did not result in any goodwill.
G. Barbosa: In January 2002, Ahold, through its wholly-owned subsidiary BR Participacoes e
Empreendimontes SA, acquired 32 hypermarkets, supermarkets, and related assets in Brazil, from G. Barbosa
for EUR 122 in cash. The acquisition resulted in goodwill in the amount of EUR 112, which was assigned
to the South America retail trade segment.
