American investor Elliott has acquired three percent of the shares of Ahold Delhaize. The hedge fund announced this on Wednesday. Elliott is known for its activist stance in the companies it purchases from. At Ahold Delhaize, Elliott wants to discuss the separation of internet shop bol.com, so that “value is released for shareholders”.
Also read: An IPO can finally show the value of Ahold’s growth pearl bol.com
On Monday, parent company Ahold Delhaize announced that it wants to list bol.com on the Amsterdam stock exchange in the autumn of 2022. A decision that Elliott applauds, because it provides more clarity about the financial figures of the internet company. Until now, Ahold Delhaize only published the annual sales of bol.com, but investors knew nothing about the profitability or quarterly figures. As a result, the shares of Ahold Delhaize would be undervalued in Elliott’s view.
Elliott has a net worth of about $48 billion (42.5 billion euros). The three percent shares of Ahold Delhaize are worth about 900 million euros at the current price. The company previously invested in the Netherlands in, among others, AkzoNobel and Intertrust, after which it urged the board to change its strategy.
Correction November 17, 2021, 6:30 PM: In an earlier version of this post, the US investor’s name was spelled “Elliot.” That has been corrected above.