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Ahold sells stake in Swedish grocer ICA to Hakon for $3.3bn

dutch retailer ahold 400BRUSSELS: Dutch retailer Ahold has sold its 60 percent stake in Swedish supermarket chain ICA to Hakon Invest, which already owned 40 percent of the grocer, the group announced on Monday.

 

Ahold said it sold the stake for 21.2 billion Swedish crowns ($3.3 billion) in cash, a sum that included ICA's 2012 dividend.

 

Ahold announced in September it was exploring options for its 60 percent stake in ICA, including a possible flotation on Sweden's stock exchange.

Copyright Reuters, 2013