STOCKHOLM: Coop Norway has met the conditions imposed by the Norwegian Competition Authority for approval of the acquisition of ICA’s (STO:ICA) Norwegian grocery operations and the transaction has now been completed.
On 4 March the Norwegian Competition Authority announced its approval of Coop Norway’s acquisition of ICA’s Norwegian grocery operations provided Coop Norway sold 93 stores. This condition has now been met and the deal was completed today, 13 April.
The final purchase price was SEK 2.8 billion on a debt-free basis and the assessed capital gain will be approximately SEK 1.2 billion.
ICA Gruppen discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 14.30 CET on Monday, 13 April 2015.
ICA Gruppen AB (publ) is a leading retail company with a focus on food and health. The Group includes ICA Sweden and Rimi Baltic which mainly conduct grocery retail, ICA Real Estate which owns and manages properties, ICA Bank which offers financial services and, since January 2015, Apotek Hjärtat which conducts pharmacy operations. The Group also includes ICA Norway which is being divested, the wholly owned portfolio company inkClub and the partly owned portfolio company Hemtex.
