NorgesGruppen ASA reached an agreement to acquire a 49% stake in Eurocash Food AB from Axfood AB (OM:AXFO) on January 19, 2017. In a related deal, Axfood AB signed an agreement to acquire Eurocash Food AB from Conceptor Renewable Energy and Technology AS on January 19, 2017. Eurocash had sales of SEK 1.2 billion in 2016. The deal is contingent upon clearance of Axfood’s acquisition of Eurocash from the Swedish Competition Authority and is contingent upon approval from the European Commission. As on August 16, 2017, The European Commission approved the transaction.