AHOLD OPENS GENEVA CENTER

ZAANDAM, Netherlands -- Ahold here said last week it has opened a new financial center in Geneva.

European cash-pooling and European centralized payment. The new center includes Ahold's Treasury & Corporate Finance Department, the company added.

Initially, the total group consists of 10 specialists of which six will be relocated from Zaandam to Geneva, according to Ahold.

The new financial center has been established to help safeguard the sustainability of Ahold's current level of effective tax rate in the future, the company explained.

As an international company, Ahold said it has taken this step to be optimally prepared in the uncertain fiscal situation within the European Union.

Ahold added that it now operates three financial centers: Zaandam, Geneva and Chantilly, Va.