The intended merger between Ahold and Delhaize is expected to be completed by the end of July, subject regulatory approval by the Federal Trade Commission of the US, Delhaize has said in a statement.
Ahold has also given further details on its its €1 billion capital repayment and reverse stock split, which was announced last year and approved by the retailer’s shareholders in March.
The merger of the two groups is likely to be completed more than a year on from when Ahold and Delhaize first announced their intention to merge, on June 24 of last year.
The Belgian Competition Authority (BCA) granted its conditional approval for the merger in March 2016. FTC clearance is the final regulatory approval requirement for the merger to complete.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.