February 20, 2013 - Assignment

Hakon Invest acquires remaining shares in ICA for SEK20bn; Nordea and Handelsbanken provide bridge financing

Hakon Invest has agreed to purchase 60% of the shares in ICA AB from Dutch joint-venture partner, Royal Ahold NV, for SEK 20 billion. Part of the consideration is being funded by bridge acquisition facilities from Nordea Bank AB (publ) and Svenska Handelsbanken AB (publ).

Hakon Invest is a leading development partner for retail companies in the Nordic and Baltic regions. The company’s share is listed on NASDAQ OMX Stockholm. ICA is one of the Nordic region’s leading retail companies, with around 2,100 of its own and retailer-owned stores in Sweden, Norway and the three Baltic countries and net sales of approximately SEK 96.8 billion in 2012. Nordea and Handelsbanken are leading financial services groups with headquarters in Sweden and operations throughout Scandinavia and select markets in Northern Europe.

Nordea and Handelsbanken were advised by Mannheimer Swartling. André Andersson led the firm’s team consisting of Veronica Stiller, David Tayler, Sara Derakti and Marcus Glimberg.