SWEDEN: Ahold mulls future of ICA investment
By Dean Best | 4 September 2012
- IPO being considered
- Review to take up to a year
 |
Ahold said IPO of Maxi owner ICA was under consideration |
Ahold today (4 September) admitted it is weighing up the options for its stake in ICA, the Sweden-based retailer.
The Dutch retail giant owns 60% of ICA, which has stores in Sweden, Norway and the Baltic states.
Ahold said it wanted to focus "on businesses it controls, in order to create value". The company jointly controls ICA with Swedish investment fund Hakon Invest, which owns the rest of the retailer.
An IPO of ICA is one option being considered. The review is expected to take six to 12 months, Ahold said.
Last month, ICA reported higher half-year profits, with sales up in Sweden and in its Baltic markets. However, sales in Norway fell. ICA is now focusing on its Rimi and ICA Supermarked stores in the country.
Sep 4, 2012
Amsterdam - Ahold has today announced that it is exploring strategic options regarding its 60% holding in ICA, the Scandinavian retailer. An IPO on NASDAQ OMX Stockholm in Sweden is one of the alternatives being considered.
Ahold presented a new growth strategy last year, and aims to focus the execution of this strategy on businesses it controls, in order to create value.
Ahold and Hakon Invest AB of Sweden jointly share controlling interest over ICA. During the review, which is expected to take 6-12 months, Ahold will continue to work closely with Hakon in order to create the best conditions for ICA to continue to grow and achieve its goals.
ICA is the market-leading food retailer in Sweden. It also operates ICA and Rimi stores in Norway, and Rimi stores in the Baltics. ICA operates 2,215 retailer-owned and company-operated retail food stores and had SEK 95,179 million in sales in 2011.
Original source: Ahold
Sectors: Financials, Mergers & acquisitions, Retail
Companies: Ahold
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