Hakon Invest AB Updates on Acquisition of Stake in ICA from Koninklijke Ahold NV


Thursday, 21 Mar 2013 03:00am EDT 

Hakon Invest AB announced that the Swedish Financial Supervisory Authority (the SFSA) has due to Hakon Invest's planned acquisition of the remaining shares in ICA from Koninklijke Ahold NV performed an ownership assessment relating to Hakon Invest's ownership in ICA Banken. The SFSA's ownership assessment did not result in any remarks which mean that the pending change in ownership of ICA is approved. The SFSA's approval of the ownership changes in ICA Banken was one condition in Hakon Invest's agreement with Ahold on the acquisition of the remaining 60 % of the shares in ICA. Hakon Invest has previously received approval from the competition authorities in Sweden and Norway regarding the acquisition. The Association of ICA Retailers' members' meeting has also approved the Association of ICA Retailers' participation in the planned new issue in Hakon Invest. Since the SFSA's ownership assessment relating to ICA Banken has been completed, all the conditions in Hakon Invest's agreement with Ahold on the acquisition of the remaining shares in ICA have been met. This means that Hakon Invest will complete the acquisition of ICA and that ICA will thereby become a wholly owned subsidiary in the Hakon Invest Group. The acquisition is expected to be completed on March 27, 2013. 

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