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”.