Ahold Delhaize Posts Update On Share Buyback Programme
Netherlands-based retail group Ahold Delhaize has announced that it repurchased 3,124,887 Ahold Delhaize common shares in the period from 19 to 23 February 2018.
These shares were repurchased at an average price of €17.65 per share, for a total consideration of €55.2 million.
The repurchases were made as part of the company's new €2 billion share buyback scheme, which was launched at the beginning of the year, and the total number of shares repurchased under the programme to date is 21,339,978, for a total consideration of €384 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 this process is expected to be completed before the end of 2018.
According to reports made this week, Ahold Delhaize's deputy CEO, Frans Muller, could be poised to take over from Dick Boer at the head of the retail giant.
The company is set to report on its full-year 2017 results tomorrow, and the new chief executive could potentially be named this week.
© 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.