Deals and IPOs

Ahold and Delhaize announce intention to merge

Bloomberg | Getty Images

Dutch-based supermarkets operator Ahold said on Wednesday it is to buy Belgian peer Delhaize in an all-share merger, with Ahold taking a 61 percent stake in the new company.

In a joint statement, the two companies said the combination will have 54.1 billion euros ($60.6 billion) in sales, with complementary operations in the United States and Benelux.

The companies expect 500 million euros of synergies annually from combining operations, to be reached by the third year after the merger.