Zaandam, the Netherlands - Ahold shareholders today overwhelmingly approved the company's proposal to merge with Delhaize Group, which would create an even stronger, more diverse and more innovative retail leader for customers, associates and local communities.
Ahold shareholders voted at an Extraordinary General Meeting (EGM) in Amsterdam. The meeting was attended by 129 shareholders, representing approximately 869 million shares.
In a separate meeting in Brussels today, Delhaize shareholders also voted in favor of the proposed merger and all related resolutions.
Ahold Chairman Jan Hommen said: "We deeply appreciate the overwhelming support of our shareholders, as well as their confidence in the future of Ahold Delhaize. This is a critical milestone in the completion of our proposed merger, which will create an even stronger international food retailer for all stakeholders."
Shareholders of Ahold today also approved the appointments of members of the future Ahold Delhaize Management Board and the Supervisory Board, which will take effect when the merger is completed. A proposed capital repayment and reverse stock split to return approximately €1 billion to shareholders, prior to completion of the intended merger, was also among the items adopted at the Ahold EGM.
On June 24, 2015, Ahold and Delhaize announced their intention to merge, creating an international retailer with more than 6,500 stores. The combined company, Ahold Delhaize, will bring together a portfolio of strong, trusted local brands, and more than 375,000 associates serving more than 50 million customers each week across the United States and Europe. The transaction is on track for completion in mid-2016.
Regulatory review of the proposed merger is currently underway with the Belgian Competition Authority (BCA) and the U.S. Federal Trade Commission (FTC).
For more information on the EGM, please click
here.
2016/08
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Source: Ahold via Globenewswire
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