Printer Friendly

Norwegian trading group NorgesGruppen ASA signs letter of intent to acquire majority stake in bookstores and office supplies retail operator.

M2 BEST BOOKS-(C)2000-2006 M2 COMMUNICATIONS LTD

Norwegian grocery retail and wholesale group NorgesGruppen ASA said on Friday (17 November) that it has signed a letter of intent to acquire a majority holding in the retail operator Bok og Kontorkjedene Norge AS.

Bok og Kontorkjedene owns Norway's largest bookstore chain Libris and the office supplies chain Kontorspar.

Libris holds a 26% market share in Norway. It has 138 stores with a combined turnover of NOK1bn.

Kontorspar has 40 outlets with a combined turnover of NOK350m.

The details of the transaction are expected to be completed in the next few weeks.

NorgesGruppen is Norway's largest trading enterprise with a 35.7% share of the grocery market. The group has over 25,000 employees and reported a turnover of NOK31.5bn in 2005.
COPYRIGHT 2006 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006 Gale, Cengage Learning. All rights reserved.

 
Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Bok og Kontorkjedene Norge AS
Publication:M2 Best Books
Article Type:Brief article
Geographic Code:4EXNO
Date:Nov 17, 2006
Words:132
Previous Article:Pearson Education announces launch of new book publishing project.
Next Article:New Borders store to open in Houston, Texas.
Topics:


Related Articles
Statistics on foreign exchange transactions--new insight into foreign exchange markets.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters