EUROPE: Ahold-Delhaize Confirm Merger Completion Target

Ahold and Delhaize have confirmed that they expect their merger to be completed before the end of July, subject to approval by the US Federal Trade Commission. The timeline has been previously put forward by both the groups, and it now appears they will meet the deadline.

Separately, Ahold offered more details on its €1bn capital repayment and reverse stock split plan, which had been announced last year.  The move will see Ahold shareholders receive 16 common shares for every 17 Ahold common shares, as well as €1.29 per remaining share (equivalent to about €1.21 per old share).  This move will be completed by 21 July 2016.