ICA AB finalizes sale of ICA Meny
ICA AB finalizes sale of ICA Meny
Solna 19 September, 2006
On September 8, the European Commission approved of Nordic Capitals acquisition of ICA Meny. ICA AB and Nordic Capital have therefore been able to close the deal today.
In June, ICA AB announced that an agreement had been settled with Nordic Capital regarding a sale of the subsidiary ICA Meny. With this deal, it will be possible for ICA AB to focus even more on its core business, retail.
The sale results in a capital gain for ICA AB of approximately SEK 360 million which will be accounted for in the third quarter 2006.
For further information, please contact: ICA press hotline, phone +46 70 253 66 60
----------------------------------------------------------------------------------------------------- About ICA The ICA Group is one of the Nordic regions leading retail companies, with around 2,200 of its own and retailer-owned stores in Sweden and Norway. The Group includes the sales companies ICA Sverige, ICA Norge and Etos. ICA Meny specializes in distribution to restaurants, the foodservice sector and convenience stores. ICA also offers financial services to Swedish customers through ICA Banken. ICA owns half of the companies Rimi Baltic, with nearly 190 stores in the Baltic countries, and Netto Marknad, with nearly 80 stores in Sweden. ICA AB is a joint venture 40% owned by Hakon Invest AB and 60% by Royal Ahold of the Netherlands. Due to shareholder agreement, neither party has control of the company and both share equal voting power. Through Royal Ahold, ICA AB is part of an international retail network. For more information, please visit http://www.ica.se