NETHERLANDS: Ahold meets with activist hedge finds
Dutch retailer Royal Ahold has met with shareholders Centaurus Capital and Paulson & Co, who collectively hold a 6.4% stake in the company, the hedge funds confirmed today (22 November).
Centaurus and Paulson had called for the sale of the retailer's US assets before Ahold's strategic recovery plan was announced. While the hedge funds have described the review as "a step in the right direction", there have been suggestions that it is felt that the company's disposal programme was not extensive enough to significantly boost returns to shareholders.
Before the outcome of the strategic review was announced, Ahold had refused to meet with the hedge funds, suggesting it would breach internal corporate governance rules.
A spokesperson for the hedge funds told just-food that a meeting did take place, but declined to indicate what was discussed. The hedge funds added that such a meeting between management and major shareholders was "perfectly normal".
Jerónimo Martins Retail (JMR) has confirmed that it is in ongoing talks with Royal Ahold concerning the purchase of Ahold's stake in JMR's retail operations....
Carrefour plans to spend PLN1bn (US$359m) as part of a drive to become Poland's largest food retailer, the French group has told just-food....
Dutch retail giant Ahold has reaffirmed its commitment to the US market after its strategy to revitalise stores there drove a rise in underlying first-half revenue....
Dutch retail giant Ahold has seen the weak dollar weigh on revenue during the first quarter of the year....
Former Ahold president and CEO Anders Moberg is to join Dubai-based retail group Majid Al Futtaim as chief executive....
Shares in Dutch retailer Ahold were up in morning trade today (3 May) as the market responded positively to the sale of Ahold's US Foodservice unit....
Dutch retailer Royal Ahold has sold its US Foodservice unit to two private equity firms, Clayton Dubilier & Rice and Kohlberg Kravis Roberts, for US$7.1bn....
The chief executive of Dutch retail group Ahold has decided to leave the company, it was announced this morning (27 April)....
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