Norway's largest retailer has acquired Scandinavia Holdings' stake in Danish retailer Dagrofa.
Retailers to become shareholders
Norgesgruppen has entered into a conditional agreement with Scandinavia Holdings and KFI which sees it take over Scandinavia Holdings 55% share of the Dagrofa business. It has also signed an ownership deal with KFI regarding the future ownerhsip and cooperation in Dagrofa, which will see it offer the group's independent retailers shares in the business. The two companies have said that going forward neither of them will hold more than a 50% stake in the business. The deal is subject to approval from the Danish Competition Authority and is expected to be completed in the first half of 2013.