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    Lithuanian Competition Authority approves ICA Gruppen´s acquisition of IKI with reservations

    The Lithuanian Competition Authority has reached a decision regarding ICA Gruppen’s subsidiary Rimi Lithuania´s acquisition of UAB Palink, which operates the IKI grocery store chain. The authority has given its clearance to the deal under the condition that 17 specific stores be sold prior to completion of the transaction. The ambition is to close the deal before year-end, however, if the divestment process takes longer, closing could be delayed until the first quarter of 2018.The divestments are not expected to materially affect the overall value creation of the acquisition, or the

    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

    ICA Gruppen to acquire the Lithuanian grocery retail chain IKI

    ICA Gruppen has signed an agreement  to acquire UAB Palink, which operates the grocery retail business IKI, for a consideration of 213 million euro on a cash and debt free basis. The acquisition of IKI means that ICA Gruppen through Rimi Baltic will become the second largest player in the growing Lithuanian grocery retail market, from being the fourth largest currently.-  Lithuania is the largest market in the Baltic region, but also the country in which Rimi Baltic has had the lowest market share. This implies a quick upscaling of the business and enables significant cost synergies. IKI is

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