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8 months ago
BRIEF-ICA to increase capex budget next year, to sell real estate
December 15, 2016 / 6:40 AM / 8 months ago

BRIEF-ICA to increase capex budget next year, to sell real estate

Dec 15 (Reuters) - ICA Gruppen

* Says will expand its capex budget from SEK 2.5 billion in 2016 to 3.5 billion ($377 million) in 2017

* says investments will be partly financed through sale of real estate

* On top of the previously communicated sale of the Norwegian property portfolio, during the spring of 2017 ICA will sell additional properties to a joint venture, which is expected to generate approximately SEK 800 million

* Says number of new store establishments in 2017 is expected to be slightly lower than in 2016

* ICA Sweden plans to open 10 to 15 new stores in 2017, compared with a total of 17 in 2016. Rimi Baltic plans to open ten new stores in 2017, compared with a total of 15 in the current year. Apotek Hjärtat plans to open a total of 14 new pharmacies in 2017, compared with 11 this year Source text for Eikon: Further company coverage: ($1 = 9.2807 Swedish crowns) (Reporting by Stockholm Newsroom)

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