Dutch retailer Ahold and Belgian group Delhaize have today (15 January) announced the filing of the common draft terms of the cross-border merger, or Joint Merger Proposal.
Delhaize filed the Joint Merger Proposal at the Brussels Commercial Court, marking 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 24 June last year, Ahold and Delhaize 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 50m customers each week in the US and Europe.
The transaction is expected to be completed mid-2016, following associate consultation procedures, shareholder approval and regulatory clearances.
