Förbund, a non-profit association and member organisation for active ICA retailers, and AMF, an insurance company, offered to acquire ICA Gruppen, a Sweden-based company with core operations in grocery retail, for $12.52bn. "ICA Gruppen has a strong position on the market, however, the world is changing rapidly and as the main owner we act to meet future challenges and increased competition. We need to adapt to create optimal prerequisites for the business in ICA Gruppen and thus for the entire ICA system, which we have always done during our 105 year history. Now we need to focus on growth oriented long-term investments, which are best suited outside the stock market, and we are happy to have AMF on board for the journey. We believe that we have made an attractive offer and that a delisting of ICA Gruppen benefits all stakeholders," Magnus Moberg, Förbund Chairman. On December 16, 2021, Bidders decided to complete their offer.