10 Jul 2015
NIB finances expansion of Lidl supermarket chain in Finland and Sweden
NIB has signed loan agreements with Lidl Suomi Ky and Lidl Sverige KB to finance the construction of new Lidl stores in Finland and Sweden between 2015 and 2017, as well as to modernise existing branches.
NIB’s loans will support Lidl’s growth strategy in Northern Europe, where the discount grocery retailer plans to open more than 40 new stores in Finland and Sweden over the next three years.
In both countries, several existing Lidl stores have reached their capacity limits, and are in need of expansion or replacement. An increase in Lidl’s standard store size will allow the chain to rebuild branches, so all include a bakery, a larger fruit and vegetable section and an increased range of fresh fish and meat products.
“NIB’s loans to Lidl will benefit consumers in both Finland and Sweden by offering them greater choice and improving the actor balance in the Nordic grocery retail markets”, says Henrik Normann, NIB President & CEO.
Lidl is an international discount supermarket chain with approximately 10,000 stores in more than 20 European countries. Currently, Lidl operates 146 stores in Finland and 169 in Sweden. The chain is part of the Germany-based Schwarz Group.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
For further information, please contact
Mr Frank Reichelt, Senior Manager Product Unit, at +358 10 618 0309, mixIt(‘f’,’rank.reichelt’,’nib.int’,”,”,’1522842181169-2′);frank.reichelt (at) nib.int
Ms Lisa-Maria Altenberger, Communications Unit, at +358 10 618 0234, mixIt(‘l’,’isa-maria.altenberger’,’nib.int’,”,”,’1522842181169-3′);lisa-maria.altenberger (at) nib.int