Ahold Delhaize Hits €500m Mark In Latest Share Buyback Venture
Ahold Delhaize has announced that it has now passed the half-billion euro mark in its planned €2 billion share buyback, which was announced in November of last year.
The retailer said that it repurchased 1,417,107 of Ahold Delhaize common shares in the period from April 3, 2018 up to and including April 6, 2018.
This brings the total number of shares repurchased under this programme to date to 27,648,644 common shares for a total consideration of €501.7 million.
The latest batch of shares were repurchased at an average price of €19.29 per share for a total consideration of €27.3 million.
Ahold Delhaize intends to have completed the latest share buyback programme by the end of 2018, as the group aims to reduce its capital by cancelling all or part of the common shares acquired by the group.
The group completed its initial €1 billion share buyback programme on 29 December last.
Last week, Ahold Delhaize announced that Frans Muller is poised to take over as CEO from longstanding chief executive Dick Boer this coming July.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.