Equity valuation : Koninklijke Ahold NV

The present dissertation aims to value the Dutch retailer group, Koninklijke Ahold NV (Ahold), implementing the theory of equity valuation. An efficient combination between theory and practice should be implemented throughout the valuation in order to obtain the most accurate result that can be complied with reality. This paper starts to introduce which different frameworks are available, explaining afterwards, which are the most relevant for the valuation of the referred company. Ahold was valued as the sum of parts of the different business geographies in which the company currently operates, using the Discounted Cash Flow approach and the Multiples valuation. Lastly, the results are compared with an investment bank research note where the divergences will be analyzed and explained

ANO VIII, número 16

Espaço e Economia: Revista Brasileira de Geografia Econômica encerra o ano de 2019 com mais uma edição e publicização da terceira e última parte dos artigos apresentados no III Colóquio Espaço e Economia: Transformações no capitalismo mundial e a produção social do espaço: novos arranjos territoriais e a economia política do desenvolvimento, realizado na Universidade do Estado do Rio de Janeiro, entre os dias 10 e 12 de junho de 2019