Sunstorm Sells off Shares in Scandic to Provobis and Stena Sessan

Sunstorm Holding AB, controlled by EQT V Ltd and Accent Equity 2003, in each case through companies, (“Sunstorm”), has entered into agreements to sell 6,000,000 shares in Scandic Hotels Group AB (“Scandic”) to Novobis AB and 15,026,982 shares in Scandic to Stena Sessan Rederi AB.

As a result of the sale, Sunstorm divests all of its shares in Scandic. Novobis, which was the cornerstone investor in the IPO of Scandic, will through the transaction increase its shareholding in Scandic from approximately 10.0% to approximately 15.8% of the total number of shares and votes in Scandic, which means that Rolf Lundström together with closely associated parties will hold, directly and indirectly, approximately 16.3% of the total number of shares and votes in Scandic after the transaction. Stena Sessan Rederi AB, which did not previously own any shares in Scandic, will hold approximately 14.6% of the total number of shares and votes in Scandic after the transaction.

The divestments are scheduled to be completed on 29 March 2017.

 

About Scandic:

Scandic is the largest Nordic hotel operator with a network of 230 hotels with almost 44,000 rooms in seven countries.

Scandic was founded in 1963 and since then, we have been a pioneer, driving development within the hotel industry. We operate in the mid-market segment under our industry-leading brand, Scandic.

Approximately 70 percent of our revenue comes from business travel and conferences, and the remaining 30 percent from leisure travel.

We have a high rate of returning guests and Scandic Friends is the largest loyalty program in the Nordic hotel industry with 1.9 million members.

The average number of employees was 9,359 as of December 31, 2016.

Scandic is a pioneer within CSR and the majority of our hotels are certified according to the Nordic Ecolabel’s new requirements.

Source Scandic’s press release

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