Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

Competition Authority Revokes Infringement Fee On NorgesGruppen

By Dayeeta Das
Share this article
Competition Authority Revokes Infringement Fee On NorgesGruppen

The Norwegian Competition Authority has revoked its decision to impose an infringement fee of NOK20 million (€1.98 million) on NorgesGruppen, the company has announced.

The fee was imposed for breach of duty to provide information related to the purchase of the real estate company Sædalssvingene 3 in Bergen in 2018.

Coop rented the premises and operated its grocery store, with an unconditional right to continue renting until 2038.

Stein Rømmerud, executive vice-president of communications and public relations at NorgesGruppen, commented, "We are satisfied with the decision from the Norwegian Competition Authority. We have always believed that we have not violated the duty to provide information in this case."

Disclosure Obligation

The disclosure obligation did not cover the acquisition because NorgesGruppen did not take over the grocery business operating on the premises.

ADVERTISEMENT

'There is nothing in the Norwegian Competition Authority's order on the duty to provide information that indicates that the Norwegian Competition Authority wants information on the purchase of property or real estate companies, unless NorgesGruppen also takes over the grocery business on the premises,' the company said in its statement.

The acquisition of Sædalssvingene 3 was a long-term real estate investment for NorgesGruppen, not the acquisition of a grocery store, it added.

© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.