Bure sells its entire holding in Nobel Biocare Makes capital gain of SEK 364M

Bure sells its entire holding in Nobel Biocare Makes capital gain of SEK 364M Bure has sold 3,600,661 shares in Nobel Biocare to the listed Swiss investment company, BB MEDTECH, and other institutional investors. The capital gain amounts to SEK 364M. The yield on the investment is equivalent to an annual return of 60 per cent. The sale is yet another step in Bure's focusing on the private equity market within the TIME (Telecoms, Internet, Media and 'Edutainment') sector. Bure Equity embarked on its first investment in Nobel Biocare at the 1997/98 turn of the year and has since participated in the company's development as its largest owner. "- We have been an active owner in Nobel Biocare and have been involved with and supported the development of the company during a very eventful period, for example in connection with the acquisition of the American company, Steri- Oss. Nobel Biocare is now the world leader within its segments and has been highly successful in developing and managing its unique product portfolio," says Roger Holtback, President and CEO of Bure Equity. " It is only natural for us to divest our holding in Nobel Biocare, now that Bure's business orientation is being focused still further on investments within TIME sector. This year, Nobel Biocare's development has been very strong and its share price has risen by approximately 90 per cent." "- I appreciate the active role that Bure has played during a period when important strategic and long-term decisions have been made within Nobel Biocare," says Jack Forsgren, President Nobel Biocare. "- We presented Bure's focused orientation in November 1999 and have since implemented virtually all of the announced concentration of Bure. Apart from today's transaction, the holdings in Åre/Vemdalen, Troponor and Gunnebo have been divested. In addition, substantial funds have been freed-up through, for example, the Guide/Framfab transaction and the sale of part of Bure's holding in Observer. Including today's deal, divestments so far this year have amounted to approximately SEK 4,560M with total capital gains of SEK 2,610M in the parent company", continues Roger Holtback. Bure Equity is now focusing wholly on private equity investments within the TIME sector. Bure has already made some 70 investments within TIME, with a market value of approximately SEK 7,000M. Bure will now strengthen its financial criteria still further to achieve a position as a leading private equity company in Sweden. Gothenburg, 5 September 2000 Bure Equity (publ) For further information, please contact: Knut Leman, Head of Corporate Communications, Bure +46 31-335 76 75, 705-11 76 75 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/09/05/20000905BIT00380/bit0001.doc http://www.bit.se/bitonline/2000/09/05/20000905BIT00380/bit0002.pdf

Subscribe