Friday, July 09, 2004
ICA AB has announced that it has entered into an agreement to sell its 13 ISO stores in the greater Copenhagen area to Denmark-based Dagrofa A/S.
Pursuant to the agreement the transaction price will not be publicly disclosed.
“The divestment is in line with ICA’s strategy to focus on the core business as well as its ambition to lead the market in the countries where it is present. At the same time the Dagrofa transaction gives the ISO chain solid footing in Denmark going forward,” says Kenneth Bengtsson, President and CEO of ICA AB.
The transaction is contingent on Danish regulatory approval.