Ahold Completes 1 Billion-euro Share Buyback

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Ahold Completes 1 Billion-euro Share Buyback

AMSTERDAM -- Ahold here said yesterday that it has completed its 1 billion-euro (US $1.48 billion) share buyback program, which launched at the end of August.

The total number of shares repurchased under the program was 96,427,207 common shares, at an average price of 10.3702 euros.

The program ended with the purchase of 3,117,909 common shares, for a total consideration of 30.4 million euros in the final purchase period, which ran from Nov. 19 until Nov. 20.

Of the total shares bought back, 76,427,207 are being canceled in accordance with resolutions adopted at Ahold's shareholders meeting in May. The remaining 20 million shares bought back will be retained by Ahold as treasury stock and used for employee share-based compensation.