No impact from ICA share deal

December 10, 1999, 15:00 CET

The acquisition of 50 per cent of Sweden's ICA supermarket chain by Dutch group Royal Ahold will have no effect on Statoil Detaljhandel Skandinavia.

This company was established by Statoil and ICA in May as a 50-50 joint venture to operate roughly 1,500 service stations in Denmark, Norway and Sweden.

"We welcome the injection of expertise and purchasing power which this transaction represents for ICA," says Sten Åke Forsberg, senior vice president for Retailing & Nordic Energy.

He adds that the deal will have no consequence for the commitment by either partner.

ICA is a leading groceries retailer in Sweden and Norway, with 2,200 and 1,150 outlets respectively. It has also opened seven stores in Latvia. Norway's Hakon group was incorporated in ICA almost a year ago.

Royal Ahold is one of the world's largest supermarket groups, with almost 4,000 outlets in Europe, the USA, South America and Asia. It has an annual turnover of EUR 35 billion.