11 February 2013

G&D advises in the acquisition of ICA

G&D has advised the ICA Retailers Association and Hakon Invest in all of the transactions in connection with Hakon Invest’s acquisition of 60 per cent of the shares in ICA AB from Ahold.

Hakon Invest has acquired 60 per cent of the shares in ICA AB from Ahold. The transaction value is SEK 20 billion (which corresponds to SEK 33 billion for 100 per cent of the shares of ICA). The acquisition is being financed, apart from own means, by a bridge loan which is intended to be repaid via a share issue in Hakon of approx. SEK 5 billion, the issuance of preference shares in ICA Fastigheter, as well as the raising of long-term debt financing. In connection with the acquisition, the ICA Retailers Association is selling 10 per cent of the shares in Hakon to Industrivärden. The transactions are, inter alia, conditioned upon approval by the relevant authorities.

G&D has advised the ICA Retailers Association and Hakon Invest in all of the transactions.

G&D’s team has chiefly comprised partners Manfred Löfvenhaft (M&A), Dick Lundqvist (M&A), Marcus Johansson (Financing) and Krister Skoog (M&A), as well as associates Björn Svensson, Gustav Skogö and Henrik Appelqvist.

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