ICA streamlines and concentrates operations in Norway

As part of ICA Norway's efforts to reverse the company's negative earnings trend
in the Norwegian market, the Board of ICA AB has decided to sell the ICA Maxi
stores and concentrate the Norwegian operations to Rimi and the ICA Supermarket
concept.
 
This decision means that ICA Norway will leave the hypermarket segment and
initiate a sales process for the company's ICA Maxi stores. Today, ICA has 25
Maxi stores in Norway, of which nine of the properties are owned by ICA Norway
and the remainder are leased by external parties. In the 2010 fiscal year, the
ICA Maxi stores posted sales of NOK 3,041 million.
 
ICA AB will continue to evaluate additional measures designed to build a
profitable business. Among other things the company will continue to review the
store network in order to improve ICA Norway's position in the Norwegian market.
 
For further information, please contact:
 
CEO                                        CFO
Claes-Göran Sylvén                                        Göran
Blomberg
Tel +46 8 55 33 99 64                                        Tel
+46 8 55 33 99 99
cgs@hakoninvest.se
goran.blomberg@hakoninvest.se
 
Head of IR
Cecilia Lannebo
tel +46 8 55 33 99 55
cecilia.lannebo@hakoninvest.se
 
The information is such that Hakon Invest must disclose pursuant to the Swedish
Securities Market Act and/or the Swedish Financial Instruments Trading Act. The
information was submitted for publication at 07.30 CET on August 17, 2011.
 
20110817Eng: 
http://hugin.info/135965/R/1538822/470067.pdf
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Hakon Invest AB via Thomson Reuters ONE
 
[HUG#1538822]