ICA Real Estate to sell ICA Eiendom Norge AS

ICA Real Estate is selling ICA Eiendom Norge AS, with an underlying property value of SEK 2.2 billion, to UNION Real Estate Fund II, a real estate fund managed by the Norwegian firm UNION Eiendomskapital. The deal gives ICA Gruppen a positive cash flow of approximately SEK 1.9 billion and a capital gain of slightly more than SEK 400 million¹. The sale of ICA Eiendom is being made as a result of ICA Gruppen’s previous sale of its grocery retail business in Norway.The sale of the company ICA Eiendom includes a property portfolio as well as the existing organisation. In all, the sale covers 58