Ahold says to finalise merger with Delhaize
The HAGUE — Dutch retail giant Ahold said Thursday it expected a mega-merger with Belgian rival Delhaize to be completed by Saturday, pending approval from US regulatory authorities.
“Ahold and Delhaize announce that they expect to complete their intended merger on July 23, 2016, if regulatory clearance has been obtained from the United States Federal Trade Commission by that date,” Ahold said in a statement.
“Subject to the completion of the merger... Ahold Delhaize is expected to start trading on Euronext Amsterdam on Monday, July 25,” it added.
Based in Zaandam just outside Amsterdam, Ahold announced in June last year it was merging with Delhaize to create one of the world’s largest retail companies with a turnover of more than 54 billion euros ($59 billion).
It agreed last week to sell 86 US-based stores to receive approval from competition authorities.
Analysts have said the merger with Delhaize will give rise to the fifth-largest distributor in the fiercely contested US market and the fourth-largest in Europe.
The two groups see themselves as complementary in the US market, where Ahold present mostly the northeast with its Stop&Shop, while Delhaize’s Food Lion is prevalent in the southeast.
In Europe, the two companies seldom overlap in the Netherlands and Belgium.