Swedish Competition Authority requests review at Stockholm City Court
(Thomson Reuters ONE) - As previously announced in a press release dated March 25, 2009, RNBRETAIL AND BRANDS has signed an agreement with ÿhléns AB pertainingto the divestment of RNB RETAIL AND BRANDS' stores at NK in Stockholmand NK in Gothenburg. The divestment is conditional upon the approvalof the Swedish Competition Authority and ratification at anExtraordinary General Meeting of RNB, which was received on April 15,2009.Today, following an extended special examination, the SwedishCompetition Authority has decided to request a review of thetransaction at the Stockholm City Court. The Court will examinewhether the sale of RNB's operations at NK in Stockholm and NK inGothenburg to ÿhléns AB would clearly impede competition within thecosmetic product area. The processing period for the case willcommence today and continue for not more than six months. After that,the decision at the Stockholm City Court can be appealed to theMarket Court, where the processing period will amount to not morethan three months. The reviews of the courts can, after theprocessing periods, under certain conditions be extended on a monthlybasis.In accordance with the share-transfer agreement from March 24, 2009,RNB RETAIL AND BRANDS and ÿhléns AB are entitled, effective December1, 2009, to decide not to implement the transaction.For further information, please contact:Cecilia Lannebo, IR RNB RETAIL AND BRANDSTel: +46 (0)8-410 520 45, +46 (0)768-87 20 45, E-mail:cecilia.lannebo(at)rnb.seRNB is divided into two operational areas - Polarn O. Pyret and adistribution platform for national and international brands. PolarnO. Pyret is a brand that focuses on baby and children's wear. Thedistribution platform comprises two primary areas, Department Storesand Store concept. The Department Stores operation is conductedthrough stores at NK, Steen & Ström, Illum and Kosta Outlet. TheStore concept comprises JC, Brothers and Sisters.http://hugin.info/132993/R/1345044/322699.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 01.10.2009 - 08:30 Uhr
Sprache: Deutsch
News-ID 6466
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