ICA sells real estate properties to EPGF
ICA sells real estate properties to EPGF Stockholm 9 May, 2007
ICA Fastigheter Sverige AB has sold two real estate properties to Standard Life Investments European Property Growth Fund (EPGF) for SEK 237 million.
EPGF, a fund that is managed by Standard Life Investments, will take over the properties on 31 May, 2007. The real estate properties are located in Västerås and in Gävle. A development project is also included in the sale which EPGF can access during 2008.
"We are disposing these real estate properties to be able to free capital to invest in new stores and hypermarkets", says Bo Liffner, CEO ICA Fastigheter AB.
The deal will affect ICAs operating result positively by approximately SEK 140 million at the latest during the third quarter 2007.
For further information, please contact: ICA press hotline, phone +46 70 253 66 60
----------------------------------------------------------------------------------------------------- About ICA The ICA Group (ICA AB) is one of the Nordic regions leading retail companies, with around 2,300 of its own and retailer-owned stores in Sweden, Norway and in the Baltic States. The Group includes the sales companies ICA Sverige, ICA Norge, Rimi Baltic and Etos. ICA also offers financial services to Swedish customers through ICA Banken. ICA AB is a joint venture 40% owned by Hakon Invest AB and 60% by Royal Ahold N.V. of the Netherlands. According to a shareholder agreement, Royal Ahold and Hakon Invest jointly share controlling influence over ICA AB. Through Royal Ahold, ICA AB is part of an international retail network. For more information, please visit http://www.ica.se