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Norway: Buyouts land food retailer multi-million dollar fine

By  |  April 26, 2013
Norway: Buyouts land food retailer multi-million dollar fine

Food retail giant Norgesgruppen has earned a $4.3 million fine over its acquisitions of several retail stores form rival ICA. According to Norway’s competition regulator, the buyouts, which occurred in 2012, lead to the transfer of 13 markets to Norgesgruppen and were unlawful according to federal antitrust law. The conglomerate has denied the allegations and reinforced its belief that the transactions were legal, despite the Competition Authority’s decision. No further comments were offered other than that the company would review the fine.

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