ICA Gruppen’s $12.5 Billion Public Takeover Offer

Cirio has advised ICA Gruppen on the deal. Gernandt & Danielsson advised Murgröna Holding AB (publ) and ICA handlarnas Förbund.

ICA-handlarnas Förbund together with AMF Pensionsförsäkring AB announce, through Murgröna Holding AB (publ) (the “Bidder”), a recommended public offer to acquire all shares in ICA Gruppen AB (publ)for SEK 534 in ca sh per share. 

ICA-handlarnas Förbund is already the largest shareholder in ICA Gruppen, with a shareholding corresponding to approximately 54 per cent, and the Offer comprises the shares not already held by ICA-handlarnas Förbund. The shares in ICA Gruppen are admitted to trading on Nasdaq Stockholm.

ICA Gruppen is a leading retail company with focus on food and health. The ICA system is built on a business idea which has contributed to ICA Gruppen, together with independent retailers in cooperation, having been able to achieve a strong market position.

ICA-handlarnas Förbund is a non-profit association and member organisation for ICA retailers in Sweden with a mission to strengthen individual ICA retailers’ opportunities to own and manage their stores with profitability, competitiveness and a high customer confidence. ICA-handlarnas Förbund is ICA Gruppen’s largest shareholder with a shareholding amounting to approximately 54 per cent of all shares and votes in ICA Gruppen.

The Cirio team was headed by Annika Andersson (Picture – Capital Markets and Public M&A) and Johan Hessius (M&A), with the assistance of Maria Arnoldsson, Tim Johansson and Anja Nousiainen Hult (Capital Markets and Public M&A), Hanna Tilus (Life Science), Erik Bergenstråhle (Strategic Contracts), Niklas Sinander (Financial Regulation) and Ulrica Salomon and Miranda Hermansson (Competition).

The Gernandt & Danielsson team was led by partners Manfred Löfvenhaft, Mikael Borg and Caroline Jägenstedt Wikman, and consisting of senior associate Oscar Anderson, associates Simona Stenborg, Josefine Jonsson Tepavac and Emelie Ögren, senior associate Mikael Bolling (financing) and associate Alexander Thörnberg (financing) as well as partner Niclas Rockborn (Financial Regulation) and counsel Björn Hård af Segerstad (Financial Regulation) and associate Dena Dervanovic (data protection).

Involved fees earner: Annika Andersson – Cirio Law Firm; Maria Arnoldsson – Cirio Law Firm; Erik Bergenstråhle – Cirio Law Firm; Miranda Hermansson – Cirio Law Firm; Johan Hessius – Cirio Law Firm; Tim Johansson – Cirio Law Firm; Anja Nousiainen Hult – Cirio Law Firm; Ulrica Salomon – Cirio Law Firm; Niklas Sinander – Cirio Law Firm; Hanna Tilus – Cirio Law Firm; Björn Hård af Segerstad – Gernandt & Danielsson Advokatbyrå KB; Oscar Anderson – Gernandt & Danielsson Advokatbyrå KB; Mikael Bolling – Gernandt & Danielsson Advokatbyrå KB; Mikael Borg – Gernandt & Danielsson Advokatbyrå KB; Dena Dervanovi? – Gernandt & Danielsson Advokatbyrå KB; Manfred Löfvenhaft – Gernandt & Danielsson Advokatbyrå KB; Emelie Ögren – Gernandt & Danielsson Advokatbyrå KB; Niclas Rockborn – Gernandt & Danielsson Advokatbyrå KB; Simona Stenborg – Gernandt & Danielsson Advokatbyrå KB; Josefine Jonsson Tepavac – Gernandt & Danielsson Advokatbyrå KB; Alexander Thörnberg – Gernandt & Danielsson Advokatbyrå KB; Caroline Jägenstedt Wikman – Gernandt & Danielsson Advokatbyrå KB;

Law Firms: Cirio Law Firm; Gernandt & Danielsson Advokatbyrå KB;

Clients: ICA Gruppen; ICA-handlarnas Förbund; Murgröna Holding AB ;

Federica Tiefenthaler

Author: Federica Tiefenthaler