© Reuters. FILE PHOTO: The Ahold Delhaize logo is seen at the company’s headquarters in Zaandam, Netherlands August 23, 2018. REUTERS/Eva Plevier
AMSTERDAM (Reuters) – Supermarket group Ahold Delhaize on Monday said it wanted to spin-off its Dutch online retail business Bol.com and to list its shares in the second half of next year.
Ahold, which operates in the United States and Europe, said it would retain control over the Netherlands’ dominant internet shop in the years to come, as it would only list a limited number of shares.
The move would provide funding for the group, while fuelling the growth potential of Bol.com, the owner of the Stop & Shop, Giant, Food Lion and Hannaford chains said.
Ahold also announced a new share buyback worth 1 billion euros ($1.15 billion) starting next year and said it expected its overall sales to continue to grow in 2022.
Sales growth in the 2023-2025 period will accelerate, the company said, as it aims to add 10 billion euros in revenue by 2025.
Bol.com’s revenue and core earnings (EBITDA) are expected to double by that year, relative to the 5.5 billion euros ($6.3 billion) and around 170 million euros respectively expected for this year, Ahold said.
($1 = 0.8726 euros)
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