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ICA enters Lithuania's food market

Dec 02, 1999
By The Baltic Times staff

VILNIUS – Scandinavian company ICA AB has signed a $75 million agreement with the owners of the Lithuanian food retail chain EKO, which owns and operates 10 food shops in Vilnius, Kaunas and Klaipeda and owns one franchise outlet. ICA already owns eight stores in Latvian and Estonia.A new company will operate the good stores. The two groups will own the new company equally following an exclusive issue of shares against ICA AB, with the new capital providing the financial platform necessary for ...

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