BRIEF-Ahold to pay $297 mln to settle Waterbury class action in U.S.

Wed May 21, 2014 2:53am EDT

May 21 (Reuters) -

* Koninklijke ahold nv ahold : ahold reaches agreement in principle to settle waterbury class action in the united states

* Ahold - has signed a term sheet agreeing in principle to settle a class action pending in united states district court for district of connecticut in respect of pricing practices of ahold's former subsidiary u.s. Foodservice in period 1998-2005.

* Koninklijke ahold nv - ahold has agreed to make a payment of $297 million into a settlement fund in return for a release from all claims from all participating class members in relation to these pricing practices.

* Koninklijke ahold nv - ahold will record a provision in amount of eur215 million in q1, 2014.

* Ahold nv - ahold will be funding its payment to settlement fund out of its available cash balances and expects this payment to take place in late 2014 or beginning of 2015

* Ahold - settlement is anticipated to address issue in late 2014 or early 2015 Source text for Eikon: [IDH:nHUGzByQ0] Further company coverage: