CapMan hopes to acquire Finnish investor Norvestia in €118m deal
CapMan Plc (“CapMan” or the “Company”) offers to acquire all of Norvestia Oyj’s (“Norvestia”) shares (“Norvestia’s shares”) and securities entitling to shares which are not held by Norvestia Group or CapMan Group in a voluntary public tender offer (“Exchange Offer”). Before the Exchange Offer, CapMan holds 28.7 per cent of Norvestia’s shares.
The Combined Group is expected to create added value to both CapMan’s and Norvestia’s shareholders based on growth, benefits from operating as a larger entity in the private equity field, a more effective utilisation of the existing asset base, as well as tangible cost synergies, among others. The objective of the Combined Group is to offer the best private equity experience and have a positive impact on the economic development of its stakeholders.
Hannu Syrjänen, Vice Chairman of the Board of Norvestia, said “The Combination is a strategic step, as CapMan’s expertise and resources are well-suited to support the implementation of Norvestia’s Growth Equity strategy and future growth. In addition, the Combination enables synergies. The Combined Group is a larger operating entity and has a broader investor base, which present Norvestia’s shareholders with an opportunity for improved liquidity as shareholders of the Combined Group. The Exchange Offer provides Norvestia’s shareholders with a marked premium compared to the share price, taking into account Norvestia’s Extraordinary Dividend. Norvestia’s Board of Directors recommends that shareholders accept the Exchange Offer.”
Norvestia is a publicly listed investment company and by acquiring its shares investors indirectly own a comprehensive cross-section of the Nordic economic landscape from established blue chip firms to exciting unlisted growth companies. Norvestia’s purpose is to make professional investment activities accessible to all, on equal terms, with the aim of making a steady return. Thanks to Norvestia’s streamlined business model, investors can be sure that Norvestia’s interests always match their own.
Source: CapMan Plc