Mekonomen completes the acquisition of Meca Scandinavia

Mekonomen’s acquisition of the automotive spare-parts chain Meca has now been completed after approval was received from the Norwegian Competition Authority on 22 May 2012. As part of the acquisition process, a final decision was taken to issue 3,086,882 new shares in line with previously announced plans.

“It is positive that we were able to complete the acquisition so shortly after receiving approval. The transaction will be beneficial to both Mekonomen’s and Meca’s customers, employees and owners. In particular, the deal will help us maintain even more attractive prices for consumers in the future as an effect of the acquisition synergies,” says Håkan Lundstedt, President and CEO of Mekonomen.

Mekonomen entered into an agreement covering the acquisition of Meca on 12 October 2011. Meca is a well-known automotive spare-parts chain commanding strong positions in Sweden and Norway. Mekonomen and Meca will continue to be operated as independent companies with their existing brands.

For further information, please contact:

Håkan Lundstedt, President and CEO of Mekonomen AB.
Telephone: +46 (0) 8-464 00 00.

Per Hedblom, CFO of Mekonomen AB.
Telephone: +46 (0) 8-464 00 00.

Mekonomen AB (publ), Corp. Reg. No. 556392-1971. Box 6077, SE-141 06 Kungens Kurva, Sweden. Telephone: +46 (0) 8-464 00 00. Fax: +46 (0) 8-464 00 66.

The information in this press release is such that Mekonomen is obligated to publish in accordance with the Securities Market Act. The information was submitted for publication on 23 May 2012.

Mekonomen makes CarLife easier through a wide and easily accessible range of inexpensive and innovative solutions and products for consumers and companies. We are the leading spare-parts chain in the Nordic region with proprietary wholesale operations, more than 300 stores and more than 1,700 workshops operating under the Mekonomen brands.

About Us

Mekonomen group is the leading spare-part chains in the Nordic region and consists of three subgroups; Meca Scandinavia, Mekonomen Nordic and Sørensen og Balchen. We offer a broad and an easily accessible range of value-for-money and innovative solutions and products for consumers and companies. Within Mekonomen Group operates the leading. Mekonomen Group has approximately 400 stores and over 2,300 workshops.