Food Lion’s parent company Delhaize expects to complete its merger with the Dutch grocery chain Ahold by the end of July.
Ahold last summer announced its intention to buy Delhaize for 9.32 billion euros, or about $10.4 billion, in shares. In a statement Tuesday, Brussels-based Delhaize said the deal is still subject to regulatory approval.
The combined company will be called Ahold Delhaize, and it will have more than 6,500 stores around the world. Ahold Delhaize will control more than 4 percent of the U.S. grocery market and will be the fourth-largest food retailer in Europe, according to Natixis research.
Food Lion is the No. 2 grocery chain in the Charlotte area by market share. Earlier this year, the grocer said it’s spending $215 million to remodel 142 stores throughout the region in new, easy-to-navigate formats with new decor as well as lower prices.
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Food Lion employs about 2,300 in its Salisbury headquarters. The merger’s impact on local employment isn’t yet clear, and the companies have said coming up with a full integration plan will take time.
Ahold also said this week that before the deal closes, it will do a 1 billion euro capital repayment and reverse stock split, which are expected to take place after close of New York Stock Exchange trading hours on July 15.