Finance

Activist investor Elliott puts pressure on Ahold

“We welcome constructive dialogue with all our shareholders and value their input,” an Ahold spokesperson told Bloomberg.

IPO Bol.com

Ahold Delhaize announced plans this week to list part of its subsidiary Bol.com. With this it wants to raise financing, with which the online store can grow further.

In the Financieele Dagblad, a spokeswoman denies that the plans for the IPO of Bol.com were developed under pressure from Elliott. However, the American investor did share his ‘vision’ with Ahold Delhaize in a conversation a month ago.

Bol.com will continue to play an important role in the strategic partnership with other Ahold Delhaize brands in the Benelux, the company emphasized. The supermarket group also wants to maintain ‘significant control’ over the web store in the long term.

The IPO is expected to take place in the second half of 2022, depending, among other things, on market conditions.

Elliott no stranger

The activist Elliott is no stranger to the Dutch business community. For example, paint manufacturer AkzoNobel split off its chemical branch under pressure from Elliott a few years ago after the company had previously rejected an unwanted takeover bid from the American PPG.

Financial services provider NN Group has been under pressure from the activist investor since the beginning of last year to create more value for shareholders.

Also at Bayer and Twitter

Elliott previously also stirred up the German chemical giant Bayer and is said to have urged tech group Twitter to leave CEO Jack Dorsey.

Other activist shareholders have also turned their attention to Dutch companies in recent months. Third Point, for example, reported to Shell at the end of last month with the call to split the company into a fossil part and a part that deals with renewable energy.

At Just Eat Takeaway, a number of shareholders believe that the delivery company should divest the American Grubhub again. The acquisition was only completed at the beginning of this year.

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