Business Services Industry
ICA AB sells ICA Meny to Nordic Capital
Nordic Business Report, June 16, 2006
NORDIC BUSINESS REPORT-16 June 2006-ICA AB sells ICA Meny to Nordic Capital(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com
The Swedish retail group ICA AB announced on Friday (16 June) that it has agreed to sell its subsidiary ICA Meny to Nordic Capital.
The sales price has not been disclosed, but ICA said that the deal would result in a gain of approximately SEK360m.
ICA Meny is a supplier to restaurants, institutional caterers and convenience stores in Sweden and Norway. The company has some 900 employees and reported a net turnover of SEK5.78bn in 2005.
The transaction is conditional on approval from the European Commission.
One Swedish krona (SEK) is worth approximately 0.07 British pounds (GBP).
((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))
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