Delhaize, Ahold To Complete Merger Before End Of July, Subject To FTC Clearance

(RTTNews) - Belgian international food retailer Delhaize Group (DEG), which is in deal to be merged with Dutch supermarket chain Koninklijke Ahold NV (AHONY.PK, AHODF.PK), Tuesday confirmed that the companies expect the merger to complete before the end of July, subject to regulatory approval by the Federal Trade Commission of the United States.

It was on June 24, 2015 that Ahold and Delhaize announced their intention to merge. The shareholders' meetings of both companies approved the merger and the Belgian Competition Authority granted its conditional approval for the merger in March 2016. FTC clearance is the final regulatory approval requirement for the merger to complete.

Ahold also provided further details on its 1 billion euros capital repayment and reverse stock split, which had been announced on June 24, 2015 and approved by Ahold's shareholders on March 14, 2016.