Netherland's best large-cap IRO discusses run-up to merger
Henk Jan ten Brinke is head of IR at Zaandam-headquartered food retailer Royal Ahold. He was honored as best IR professional in the AEX index category at the eighth awards held by NEVIR, the Dutch professional IR body, on January 8.
You’ve won the NEVIR award for best IR professional (AEX) in the Netherlands. What were the highlights of your IR efforts and the main challenges you faced this past year?
We announced the proposal to merge with Delhaize in June: developing the equity story and all the back-up material like Q&As was exciting but also a lot of work, [especially] in combination with the normal IR activities.
Which tips would you give an IRO involved in an M&A transaction?
For us, staying aligned on messaging with our colleagues from Delhaize from after the announcement right up until closing was ‒ and is ‒ absolutely a priority. You really have to invest time and energy in this from both sides, especially if you do not know each other well, but this pays off massively and is greatly appreciated by the investment community.
In the case of a merger where there is considerable time between announcement and closing, organizing a joint roadshow with both CEOs meeting investors together during that period requires careful preparation on key messages, Q&A and division of roles, but it is a strong signal of confidence in the transaction as well as in each other.
What are the other plans for Ahold’s IR program in 2016?
Setting up a new team, getting ready for ‘day one’ in terms of reporting (segmenting, setting the calendar and historical pro forma data, and so on) and starting preparations for a capital markets day on our strategy and financial ambition will keep us busy.
Candice de Monts-Petit
Candice de Monts-Petit joined IR Magazine as a senior editor in 2012. Prior to this, she worked in investor relations, first as an IRO for oil and gas firms in Paris and Moscow and subsequently as an IR consultant in London. She graduated in business...
