Amsterdam - Ahold has today announced that it is exploring strategic options regarding its 60% holding in ICA, the Scandinavian retailer. An IPO on NASDAQ OMX Stockholm in Sweden is one of the alternatives being considered.
Ahold presented a new growth strategy last year, and aims to focus the execution of this strategy on businesses it controls, in order to create value.
Ahold and Hakon Invest AB of Sweden jointly share controlling interest over ICA. During the review, which is expected to take 6-12 months, Ahold will continue to work closely with Hakon in order to create the best conditions for ICA to continue to grow and achieve its goals.
ICA is the market-leading food retailer in Sweden. It also operates ICA and Rimi stores in Norway, and Rimi stores in the Baltics. ICA operates 2,215 retailer-owned and company-operated retail food stores and had SEK 95,179 million in sales in 2011.
This press release includes forward-looking statements, which do not refer to historical facts but refer to expectations based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those included in such statements. These forward-looking statements include, but are not limited to, statements as to Ahold exploring strategic options regarding its shareholding in ICA, the alternative of an IPO, Ahold’s focus on the execution of its growth strategy on business it controls, the cooperation between Ahold and Hakon to create of the best conditions for ICA to continue to grow and achieve its goals. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by the forward-looking statements. Important factors that could cause actual results to differ materially from the information set forth in these forward-looking statements include, but are not limited to, factors discussed in Ahold’s public filings and other disclosures. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as per the date of this press release. Ahold does not assume any obligation to update any public information or forward-looking statements in this release to reflect subsequent events or circumstances, except as may be required by applicable laws. Outside the Netherlands, Koninklijke Ahold N.V., being its registered name, presents itself under the name of “Royal Ahold” or simply “Ahold”.