Bure sells holdings in Carnegie Holding, Carnegie Asset Management and Max Matthiessen.
Bure Equity has sold all of its shares in Carnegie Holding, Carnegie Asset Management and Max Matthiessen to Altor Fund III. The sale generate a preliminary capital gain of approximately SEK 280 million for Bure.
In February 2009 Bure Equity and Altor Fund III together acquired the shares in the former Carnegie Investment Bank and Max Matthiessen from the Swedish National Debt Office.
The sales price consists of a cash payment of SEK 629 million and possible conditional consideration in a maximum amount of SEK 106 million. The preliminary capital gain in the Parent Company, excluding conditional consideration, is estimated at approximately SEK 280 million, equal to around SEK 3.5 per share. Bure’s net asset value, which was reported at SEK 27.02 per share on 24 April 2012, amounts to around SEK 30.5 per share after this transaction.
”We are highly satisfied with the way in which we have developed these operations together with Altor and the companies’ employees since the acquisitions. The investments have also created significant value for Bure’s shareholders. Businesses of this type have a need for well defined principal ownership and responsibility. We believe that the process of change that Carnegie Holding is undergoing can be carried out more effectively with Altor as the sole principal owner,” says Patrik Tigerschiöld, CEO of Bure Equity.
The transaction is conditional on the customary approvals and is expected to be completed during the current year.
Bure Equity AB (publ)
For more information contact:
Patrik Tigerschiöld, CEO
Tel. 08 – 614 00 20
The information contained herein is subject to the disclosure requirements of Bure Equity AB under the Swedish Securities Market Act. The information has been publicly communicated on 2 May 2012, 8:00 a.m. CET
Bure is a listed investment company with ownership interests in Nordic companies. The current holdings consist of eight portfolio companies, of which three are listed.