Ahold’s shareholders have overwhelmingly approved the company’s proposal to merge with Delhaize group, following a vote at an EGM held today (March 14) in Amsterdam.
The meeting was attended by 129 shareholders, representing approximately 869 million shares.
Meanwhile, in a separate meeting in Brussels today, Delhaize shareholders also voted in favour of merger, as well as all related resolutions.
Ahold Chairman Jan Hommen commented, "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."
Ahold shareholders 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 before the intended merger is completed was also among the items adopted at the Ahold EGM.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Jenny Whelan. To subscribe to ESM: The European Supermarket Magazine, click here.
