Axfood AB (publ) (OM:AXFO) agreed to acquire 9.9% stake in City Gross Sverige Ab for SEK 0.3 billion on May 31, 2021. The acquisition will be financed through a combination of existing cash and credit facilities. Axfood AB unutilized credit facility with Swedbank and SEB will be used to finance the acquisition. In a related transaction, Dagab Inköp & Logistik AB reached an agreement to acquire Bergendahl Food AB from Bergendahl & Son AB for SEK 1.5 billion on May 31, 2021. All above amounts are on a cash and debt free basis. Furthermore, Axfood has entered into a call option agreement to acquire additional shares, up to a total shareholding of 30% in City Gross, gradually during a five-year period. For the last twelve months ending March 2021, net sales for City Gross amounted to approximately SEK 9,800 million and adjusted operating profit to approximately SEK 170 million. Excluding integration and transaction costs, the acquisition is expected to be accretive to Axfoods earnings per share from 2022. Hampus Appelgren of Skandinaviska Enskilda Banken AB (publ) (OM:SEB A) and PriceWaterhouseCoopers Corporate Finance LLC acted as a financial advisors while KANTER Advokatbyrå KB and Kastell Advokatbyra AB acted as a legal advisors to Axfood AB (OM : AXFO), parent of Dagab Inköp & Logistik AB. As of September 16, 2021, the transacting has been approved by The Swedish Competition Authority.