Ahold and Delhaize Group have moved forward in the current merger process, by filing a "cross-border merger of limited liability companies".
The merger proposal contains information about Ahold and Delhaize's belief that the merger will not lead to a significant reduction in its labour force.
Ahold and Delhaize also agreed that Delhaize will continue its restructuring and employment plan in Belgium, while the document also talks about who will be on the supervisory board, board of directors and the executive committee of the merger company.
The proposal sees "special advantages" for its board members and experts involved in the merger. Delhaize CEO Frans Muller will get a very nice bonus if he can get the merger approved.
Should be finalized by mid-2016
Delhaize's merger proposal was filed to the Commercial Court's bailiff in Brussels and is one of the steps required to convene the shareholders for their extraordinary General Assembly, which should take place in the first half of 2016.
The entire process should be finalized by mid-2016, once it negotiates with the employees, gets shareholder and overseer's approval.
The entire text for the cross-border merger of limited liability companies can be read on Delhaize Group's website.