Ashurst is advising ICA Gruppen AB, the leading grocery retail company in Sweden and the Nordic region, in connection with the sale of Forma Publishing Group, a magazine publishing business, to the Danish media company Egmont. In a separate transaction, the business-o-business part of Forma will be sold to ICA-handlarnas Fobund, the association of ICA-etailers.

The sale is subject to approval from the Swedish Competition Authority and completion is expected to take place in the beginning of October 2014.

The Ashurst team is led by Stockholm-based corporate partner Pontus Bergsten, assisted by senior associate Erica Hegerin and associates Elisabeth Heide and Magnus Sundin. Partner Mats Johnsson is advising on competition matters, with counsel Jenny Jilmstad advising on employment issues.

Mannheimer Swartling Advokatbyrais acting as legal advisor for Egmont, with KPMG and Stella Advisors as financial advisors. Grobergs Advokatbyrais acting as legal advisor for ICA-handlarnas Fobund.