ICA Real Estate extends agreement with City of Stockholm to build store and housing in Årsta


ICA Real Estate and the City of Stockholm have extended a “Land allocation
agreement and letter of intent on a property reparceling” pertaining to ICA’s
warehouse property in Årstafältet. ICA Real Estate will develop the property to
include an ICA store as well as housing in a jointly owned company together with
Veidekke Bostad.
ICA Real Estate currently owns a warehouse property in the Årstafältet urban
development zone. In 2013 ICA Fastigheter signed a “Land allocation agreement
and letter of intent on a property reparceling” with the City of Stockholm. ICA
Real Estate and the City of Stockholm have now agreed to extend the agreement.

In the land exchange with the City of Stockholm, a new commercial and
residential district will be developed. ICA Real Estate will develop a
commercial property to include a large ICA store along with other businesses and
services. The district will also include building rights for a minimum of 200
apartments. ICA Real Estate will develop this residential property in a jointly
owned company together with Veidekke Bostad.

“ICA Real Estate develops sustainable buildings and destinations where people
live and work,” comments Lena Boberg, CEO of ICA Real Estate. “In Årsta, in
addition to creating a site for commerce and service, together with Veidekke
Bostad we will be developing attractive homes adjacent to our new marketplace.”

Depending on the degree of development, the transaction with the City of
Stockholm is expected to give rise to a capital gain of approximately SEK 350
-450 million for ICA Real Estate. The capital gain will not impact earnings
until the land exchange takes place, which is expected to be in 2019.


For more information
ICA Gruppen press service, telephone number: +46 10 422 52 52

ICA Gruppen AB discloses the information provided herein pursuant to the
Securities Market Act
and/or the Financial Instruments Trading Act. The information was submitted for
publication at 15.00 CET on Tuesday, 30th June 2015.


ICA Gruppen AB (publ) is a leading retail company with a focus on food and
health. The Group includes ICA Sweden and Rimi Baltic, which mainly conduct
grocery retail, ICA Real Estate, which owns and manages properties, ICA Bank,
which offers financial services, and Apotek Hjärtat, which conducts pharmacy
operations. The Group also includes the wholly owned portfolio company inkClub
and the partly owned portfolio company Hemtex. For more information see
icagruppen.se (http://www.icagruppen.se/).

Attachments

06308166.pdf