ICA Gruppen proposes sale of 17 stores in the process with the Lithuanian Competition Authority
ICA Gruppen, through its subsidiary Rimi Lithuania, signed an agreement in december 2016 to acquire UAB Palink, which runs the IKI retail chain, and awaits approval for the deal by the Lithuanian Competition Authority. The Authority has raised concerns about certain geographical areas and ICA Gruppen has therefore proposed a sale of 17 stores in Lithuania. A final decision from the Authority is expected before the end of October.
The Authority shall now forward the proposal for a public consultation before a final decision is made. ICA Gruppen will communicate an expected date for when the acqusition can be completed, after the final decision is made by the Comptition Authority.
IKI is the second largest player in the Lithuanian grocery market with a nationwide retail network of about 230 stores. Rimi had 57 stores in Lithuania by the end of 2016.
For more information:
ICA Gruppen press service, Telephone number: +46 10 422 52 52
ICA Gruppen AB (publ) is a leading retail company with a focus on food and health. The Group includes ICA Sweden and Rimi Baltic which mainly conduct grocery retail, ICA Real Estate which owns and manages properties, ICA Bank which offers financial services and Apotek Hjärtat which conducts pharmacy operations. The Group also includes Hemtex. For more information see icagruppen.se