International News - Ahold paperwork seized during head office raid

Ahold's offices in Zandaam, Holland, have been raided by the Dutch public prosecutor and 'several boxes' of documents seized.

The search, last Saturday, was the latest development in a saga that began when Ahold admitted to profit overstatements in February, since revealed to be US$970 million (£592 million).

The latest investigation relates to the company's joint venture ICA-Ahold in Scandinavia and its businesses in South America.

Ahold said in a statement: 'Ahold has given full co-operation to this investigation and is co-operating fully with the Dutch Public Prosecutor, as it has been doing and continues to do with the US Securities and Exchange Commission and the US Department of Justice, in connection with their ongoing investigation.'

Last weekend's raid followed action by the food retailer, the world's third largest, to put the financial revelations and ensuing share price collapse behind it with a series of management changes.

A spokeswoman said no indication had been given as to when the investigations would be completed.