Brief: Hufvudstaden: Nordiska Kompaniet Buys Departments & Stores Business In The NK Department Stores

Hufvudstaden AB

27/01/2021 07:57

Jan 27 (Reuters) - Hufvudstaden AB  HUFVa.ST :
    * NORDISKA KOMPANIET ACQUIRES DEPARTMENTS & STORES BUSINESS
IN THE
NK DEPARTMENT STORES
    * UNIT AB NORDISKA KOMPANIET HAS REACHED AN AGREEMENT WITH
RNB
RETAIL AND BRANDS AB (RNB) TO ACQUIRE NK BUSINESS WITHIN ITS
SUBSIDIARY DEPARTMENTS & STORES EUROPE AB (DSE)
    * PURCHASE CONSIDERATION FOR STOCKS AND EQUIPMENT IS
PRELIMINARY
SEK 58 MILLION
    * ACQUISITION WILL CLOSE ON FEBRUARY 3, 2021
    * ACQUIRED BUSINESS WILL BE OPERATED IN A WHOLLY OWNED
SUBSIDIARY
OF NK, IN WHICH ALL EMPLOYEES WILL BE OFFERED POSITIONS
    * DSE CURRENTLY RUNS ABOUT 40 FASHION, COSMETICS AND
JEWELLERY
DEPARTMENTS AT NK STOCKHOLM AND NK GOTHENBURG
    * DSE GENERATED REVENUES OF SEK 773 MILLION IN 2019/2020
FINANCIAL
YEAR

Source text for Eikon:  ID:nWkr5BDQLQ 
Further company coverage:  HUFVa.ST 

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