Gernandt & Danielsson advises Murgröna Holding AB (publ) and ICA handlarnas Förbund in connection with a recommended public offer to the shareholders of ICA Gruppen AB (publ)

On 10 November 2021, ICA-handlarnas Förbund and AMF Pensionsförsäkring AB announced, through Murgröna Holding AB (publ) (”BidCo”), a recommended public offer to acquire all shares in ICA Gruppen AB (publ) (“ICA Gruppen”) for SEK 534 in cash per share. The offer entails that the shares in ICA Gruppen are valued at a total of approximately SEK 107.4 billion. The shares in ICA Gruppen are admitted to trading on Nasdaq Stockholm.

ICA-handlarnas Förbund is a non-profit association and member organisation for ICA retailers in Sweden with a mission to strengthen individual ICA retailers’ opportunities to own and manage their stores with profitability, competitiveness and a high customer confidence. ICA-handlarnas Förbund is ICA Gruppen’s largest shareholder with a shareholding amounting to approximately 54 per cent of all shares and votes in ICA Gruppen.

ICA Gruppen is a retail company operating in a number of areas important to people’s everyday lives, including grocery, pharmacies, banking and insurance. The core business is grocery retail, where the hub consists of approximately 1,550 grocery stores in Sweden, Estonia, Latvia and Lithuania.

Gernandt & Danielsson advises BidCo and ICA-handlarnas Förbund with a team led by partners Manfred Löfvenhaft, Mikael Borg and Caroline Jägenstedt Wikman, and consisting of senior associate Oscar Anderson, associates Simona Stenborg, Josefine Jonsson Tepavac and Emelie Ögren, senior associate Mikael Bolling (financing) and associate Alexander Thörnberg (financing) as well as partner Niclas Rockborn (Financial Regulation) and counsel Björn Hård af Segerstad (Financial Regulation) and associate Dena Dervanović (data protection).