Ahold Delhaize: launches share buybacks to reduce capital
(CercleFinance.com) - Ahold Delhaize is starting its 1 billion euro share buyback plan, as announced in November, expecting to complete it by the end of 2021.
The Dutch retailer said the program aims to help reduce its share capital by cancelling all or part of the common stock acquired through the purchases.
Analysts say that these repurchase are expected to have an acretive impact on earnings per share (EPS).
The supermarket group also said that its US unit Giant Food has completed negotiations with unions regarding some of its multi-employer pension plans, under which it will inject approximately 800 million dollars (about 650 million euros) into pension benefits for employees.
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