Ahold share holders push for sale of US Business
A group of shareholders in Royal Ahold NV, led by Paulson & Co. Inc. and Centaurus Capital, yesterday said that they will push for a spinoff of the company’s U.S. business.
The two funds – who say they hold a combined 6.4% stake in the Amsterdam-based retailer – said that the company “needs drastic strategic action to deliver shareholder value.” They added that they are “investigating options to create value for the benefit of various Ahold stakeholders.”
“We believe keeping Ahold’s disparate retail and wholesale interests together diminishes shareholder value and limits the operating potential of the individual businesses,” the funds said, adding that Ahold should sell its U.S. business and focus on its European operations.
Ahold has been the subject of speculation about takeover bids and a possible breakup of the company since it abandoned its financial targets earlier this year amid fierce competition, especially in the U.S.
