Ahold Delhaize Issues Share Buyback Update
Netherlands-based retail group Ahold Delhaize has announced that it repurchased 2,506,901 Ahold Delhaize common shares in the period from 22 to 26 January 2018.
These shares were repurchased at an average price of €18.43 per share, for a total consideration of €46.2 million.
These repurchases were made as part of the company's new €2 billion share buyback scheme, which was launched at the start of this month.
The total number of shares repurchased under this programme to date is 8,658,173, for a total consideration of €159.3 million.
Ahold Delhaize says that the purpose of the programme is to reduce capital by cancelling all or part of the common shares acquired by the group, and it expects it to be completed before the end of 2018.
Last week, in its home market of the Netherlands, the company posted a 6% increase in comparable sales in the fourth quarter of the year, making it the group's best-performing division. The group experienced marginal growth in Central and South-Eastern Europe, and the US, while its Belgian business was flat.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.