Ahold Delhaize Launches 1 Billion-euro Share Buyback

Ahold Delhaize has begun a 1 billion-euro share buyback program revealed on Dec. 7, 2016, and anticipates completing the program before the end of this year.

“Maintaining a balanced approach between funding growth in key channels and returning excess liquidity to shareholders is part of Ahold Delhaize's financial framework to support its Better Together strategy,” the Amsterdam-based company said. “The purpose of the program is to reduce the capital of Ahold Delhaize by canceling all or part of the common shares acquired through the program.”

The program will be carried out by intermediaries enabling the execution of share repurchases in the open market during open and closed periods, within the limits of relevant laws and regulations and the existing authority granted at Ahold’s 2016 annual general meeting of shareholders and of the authority, if granted, by the company's annual general meeting this April.

Ahold Delhaize, whose U.S. banners include Food Lion, Giant Food, Hannaford, and Stop & Shop, said it would provide regular updates on the program’s progress.