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Elliott, the American hedge fund owned by billionaire Paul Singer, is taking a 3 percent stake in Ahold Delhaize.
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The importance that the fund had on Wednesday announces in a press release, is worth about 900 million euros at the current share price. Ahold Delhaize is the parent company of the supermarket chains Delhaize and Albert Heijn, the drugstore chain Etos and the e-commerce giant Bol.com.
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Elliott is known as one of Wall Street’s foremost activist investors. Last year it took a stake of over $2.5 billion in Japanese Softbank, where it pushed for share buybacks to boost the share price. Earlier this week, the fund disclosed a stake in German auto parts specialist Hella.
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IPO Bol.com
The entry into Ahold Delhaize has to do with Bol.com. The fund indicates that the value of the e-commerce subsidiary is too little reflected in the price of the listed company. This has been a concern of investors for years, who have difficulty estimating the value of Ahold Delhaize’s units.
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The fund indicates that the value of Bol.com is too little visible in the price of Ahold Delhaize.
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The Elliott, described by opponents as a ‘vulture fund’, supports the intention of CEO Frans Muller to put a minority stake in Bol.com on the stock exchange. The IPO, announced earlier this week, is scheduled for the second half of 2022 and is central to Ahold Delhaize’s new growth plan.
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