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EU approves ICA acquisition

July 5, 2004, 14:00 CEST

The European Union competition authorities have approved the agreement covering the acquisition by Statoil ASA of retail chain ICA’s holding in retailer Statoil Detaljhandel Skandinavia AS (SDS).

SDS has been owned 50-50 by ICA and Statoil since 1999.

The company operates nearly 1 400 full-service Statoil stations in Scandinavia and also has almost 80 automated outlets under the 1-2-3 brand. It occupies a leading position in its area of the Scandinavian retail sector, with 23 per cent of the market

Operating in nine countries, SDS has some 8 000 employees and an annual turnover of NOK 40 billion, and serves more than a million customers every day.