Gernandt & Danielsson advises ICA Gruppen in connection with its cash offer to the shareholders of Hemtex in a total value of SEK 719 million

ICA Gruppen AB ("ICA Gruppen") has on 25 August 2015 announced a cash offer to the shareholders of Hemtex AB ("Hemtex") to acquire all outstanding shares in Hemtex for a consideration of SEK 7.50 cash per share. The offer values all outstanding shares in Hemtex to approximately SEK 719 million. In 2014, ICA Gruppen had revenues of approximately SEK 87 billion and had over 19,000 employees, mainly in Sweden and the Baltic countries. ICA Gruppen's share is listed on Nasdaq Stockholm, Large Cap, since 8 December 2005. The Hemtex shares are listed on Nasdaq Stockholm, Small Cap.

Gernandt & Danielsson has advised ICA Gruppen with a team consisting of Partners Manfred Löfvenhaft and Krister Skoog, Senior Associate Leo Lee and Associate Aleksander Källkvist.