ICA sells Norwegian business
Decision follows strategic review of ICA’s Norwegian business
ICA conducted a strategic review of its Norwegian business after the Norwegian Competition Authority advised it would likely block cooperation between ICA and Norgesgruppen, Norway’s biggest grocery retailer.
ICA CEO: ‘divestment is the best alternative’
Commenting on the sale, ICA CEO Per Stromberg said, ‘During the last months we have analysed several options for ICA Gruppen’s Norwegian food retail business and we have concluded that a divestment is the best alternative’.
Sale has geographical benefits for Coop Norge
The 553 store locations included in the sale should benefit Coop Norge as ICA operates stores in geographical areas where Coop Norge is under-represented, such as Bergen and the central east of Norway.
Coop Norge CEO: ‘the best solution for staff, consumers and providers’
Coop Norge CEO Svein Fanebust commented ‘Taking over ICA Norge is a big lift for Coop. It is also the best solution for staff, consumers and providers when the situation is such that ICA pulls out of Norway'.
Source: igd.com
