Dutch distributor Royal Ahold NV announced on Wednesday that it will take over its Belgian rival Delhaize Group, the owner of Mega Image, through a stock-for-stock merger worth EUR 9.32 bln, which will allow Ahold shareholders to own 61 per cent of the resulting entity, Reuters and Bloomberg inform.
In a joint press release the two companies point out that Delhaize shareholders will receive 4.75 Ahold shares per each Delhaize share owned, which means Delhaize shares are priced at EUR 90 per share.
The transaction will be completed in mid-2016, depending on the regulatory authorities’ approval.
The merger between Ahold and Delhaize will create a group that will be able to serve over 50 million clients in a week, and that has a turnover of EUR 54.1 bln, over 6,500 stores and auxiliary activities in the United States and in Benelux.
Delhaize Group is present in Romania through a network of 423 Mega Image stores. Founded in 1995, Mega Image is the biggest supermarket chain in Romania, having stores in Bucharest, Constanta, Ploiesti, Brasov, Targoviste and other cities.