ICA Gruppen AB: ICA Fastigheter Divests Ten Retail Properties to Ancore Fastigheter

Regulatory News:

ICA Fastigheter (STO:ICA) is selling ten retail properties in Sweden to Ancore Fastigheter AB, which is co-owned by ICA Fastigheter and Alecta. The underlying property value amounts to SEK 918 million and the transaction generates a capital gain of SEK 118 million for ICA Fastigheter AB.

Ancore Fastigheter AB is owned to 50% by ICA Fastigheter AB. ICA Gruppen’s share of the total capital gain, SEK 59 million, will be recognised in the third quarter of 2014.

"As a result of this sale, capital will be released that can be invested in ICA’s store network at the same time as we retain influence over these ten marketplaces,” says Lena Boberg, CEO of ICA Fastigheter.

The properties to be divested are Örnen 17 in Eslöv, Gnejsen 1 in Sala, Mårten 5 in Sjöbo, Orgeln 2 in Skellefteå, Motorn 10 in Vara, Hajen 7 in Varberg, Valen 3 in Vimmerby, Kornet 3 in Värnamo and Norrastugan 3 in Växjö, where the largest operation is ICA Kvantum. The retail property Holje 103:7 in Olofström, where the largest operation is Maxi ICA Stormarknad, will also be sold. The properties will be taken over in September 2014. The underlying property value is SEK 918 million and the properties have approximately 46,000 square metres of leasable area.

After the acquisition, Ancore Fastigheter will own 29 retail properties with a total leasable area of approximately 225,000 square metres with a property value in excess of SEK 5.0 billion.

Ancore Fastigheter AB was formed in 2010 as a joint venture between ICA Fastigheter and Alecta. The company acquires and owns properties in Sweden with long leases where ICA is the main tenant.

ICA Gruppen AB discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 15.00 CET on Tuesday, 16 September 2014.

ICA Gruppen AB (publ) is one of the Nordic region’s leading retail companies, with around 2,300 of its own and retailer-owned stores in Sweden, Norway, Estonia, Latvia and Lithuania. The Group includes the retail companies ICA Sweden, ICA Norway and Rimi Baltic, ICA Real Estate, which owns and manages properties and ICA Bank, which offers financial services to Swedish customers. The Group also includes the wholly owned portfolio company inkClub and partly owned portfolio companies Cervera and Hemtex. For more information see icagruppen.se (http://www.icagruppen.se)

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