Allen & Overy’s (A&O’s) Amsterdam arm has acted on the high profile $2.65bn refinancing of troubled Dutch retail giant Ahold alongside New York’s Davis Polk & Wardwell.

In a rapidly thrown together financing, A&O advised a group of banks, led by key client ABN Amro, on the creation of the credit lifeline for Ahold, with Davis Polk partner Donald Bernstein advising on US law issues.