BRUSSELS, Belgium, Jan. 15, 2016 (GLOBE NEWSWIRE) -- Ahold and Delhaize Group today announced the filing of the common draft terms of the cross-border merger (Joint Merger Proposal).
Delhaize today filed the Joint Merger Proposal at the clerk's office of the Brussels Commercial Court. This is one of the required steps ahead of convening the companies' respective Extraordinary General Meetings of shareholders, which are expected to take place in the first half of 2016.
On June 24, 2015, Ahold and Delhaize Group announced their intention to merge, creating an international retailer with a portfolio of strong, trusted local brands and more than 375,000 associates serving more than 50 million customers each week in the United States and Europe.
The transaction is expected to be completed mid-2016, following associate consultation procedures, shareholder approval and regulatory clearances.
» Delhaize Group
Delhaize Group is a Belgian international food retailer present in seven countries on three continents. At the end of the third quarter of 2015, Delhaize Group's sales network consisted of 3 465 stores. In 2014, Delhaize Group posted €21.4 billion ($28.4 billion) in revenues and €89 million ($118 million) in net profit (Group share). At the end of 2014, Delhaize Group employed approximately 150 000 people. Delhaize Group's stock is listed on NYSE Euronext Brussels (DELB) and the New York Stock Exchange (DEG).
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Press release in PDF http://hugin.info/133961/R/1979004/724861.pdf