ICA Gruppen has signed an agreement with Accent Equity 2012 to sell Cervera. The capital gain is expected to amount to approximately SEK 15 million after transaction expenses, and is expected to be completed during the second quarter of 2015.
- ICA Gruppen’s CEO, Per Strömberg, comments: "The divestment of Cervera is in line with the strategy adopted in the autumn of 2013, which means that we are focusing our non-food offering. With this transaction, together with the divestment of Kjell & Company in May 2014 and the divestment of Forma in October 2014, we have now completed this process.
Today, Cervera has a national retail network consisting of approximately 70 stores. Cervera’s sales amounted to SEK 745 million in 2014. ICA Gruppen’s ownership share in Cervera amounts to 91.4%. Other shareholders sell their shares in the transaction on the same terms.
The sale, which is subject to approval by the Swedish Competition Authority, is expected to be completed in the second quarter of 2015.
Handelsbanken Capital Markets has acted as financial advisor to ICA Gruppen in connection with the transaction.