Kesko Food Ltd, part of the Kesko Group, and ICA Baltic AB, part of the ICA Group, have today completed the deal by which Kesko Food sold its 50% shareholding in Rimi Baltic AB to ICA Baltic.
Kesko Food and ICA Baltic signed an agreement on 9 October 2006 according to which Kesko Food sells its 50% shareholding in Rimi Baltic AB to ICA Baltic for €190 million. It was also agreed that Rimi Baltic acquires the food trade properties owned by Fiesta Real Estate AS, an Estonian subsidiary of Kesko, and leased to Rimi Baltic in Estonia for €50 million. It is estimated that the property transactions will take effect at the beginning of January 2007.
The capital gain from the share and property transactions to Kesko is anticipated to total approximately €155 million, of which the share transaction will account about €130 million.
Kesko has previously published stock exchange releases concerning the deal on 10 October 2006 and on 12 December 2006.
Corporate Executive Vice President Juhani Järvi, Kesko Corporation, tel. +358 1053 22209
Helsinki Stock Exchange
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