ICA Real Estate to acquire Första AP-fonden’s stake in Secore Fastigheter

ICA Real Estate today entered into an agreement to acquire Första AP-fonden’s 50 per cent stake in the jointly owned company Secore Fastigheter AB (Secore). The total underlying property value in Secore is approximately SEK 3 billion, and the purchase price for the shares is SEK 738 million. In addition, Första AP-fonden's share of Secore's debt of SEK 712 million will be taken over. Secore’s total debt amounts to SEK 1.4 billion.

The acquisition entails an opportunity for ICA Real Estate to optimise its portfolio with the ambition to establish a new collaboration with a long-term partner in connection with the closing of the deal with Första AP-fonden.

All else unchanged, the acquisition, which will close on 1 April 2022, will increase ICA Gruppen’s net debt by SEK 0.9 billion and the key ratio EBITDA/Net debt by 0.1, until an arrangement with a new long-term partner has begun.

About Secore Fastigheter AB (Secore)

Secore was established in 2015, and the company’s business is to acquire, own, manage and develop real estate in Sweden with long-term leases where companies in ICA Gruppen are the primary tenants.

Property holdings: 40 properties

Lettable area: approximately 116,500 sq. m.

Rental revenue (2020): approximately SEK 183 million

Operating profit (2020): SEK +84 million

Secore is currently reported in accordance with the equity method in ICA Real Estate and accounted for SEK +30 million of ICA Real Estate’s operating profit in 2020.

For more information
ICA Gruppen press service, telephone number: +46 (0)10 422 52 52, email: press@ica.se
Frans Benson, Head of Investor Relations, telephone number: +46 (0)8 561 500 20

icagruppen.se

This information is such that ICA Gruppen AB is obligated to make public in accordance with the EU Market Abuse Regulation. The information was submitted for publication by the contact person above at 14.50 CET on Thursday, 30 September 2021.