Ahold announced earlier today (4 Sept) that it is reviewing "strategic options" regarding its 60 per cent stake in ICA, the Scandinavian retailer. An IPO on NASDAQ OMX Stockholm in Sweden is one of the alternatives being considered.
The review is part of Ahold's growth strategy introduced last year and is anticipated to 6-12 months to complete. The Dutch retailer said it wants to create value on the business it controls. Although it has a 60 per cent holding in ICA, control is split evenly with Swedish partner Hakon Invest AB.
ICA operates a number of banners in Sweden, Norway and the Baltics. Despite a 3.9 per cent increase in net sales in the first half of this year, it's Norwegian business slowed. (4 Sept)
© 2012 - ESM: European Supermarket
