Nordic Capital Fund VIII (“Nordic Capital”)1 has entered into a call option agreement with the investment company R12 Kapital (“R12”) which entitles Nordic Capital to acquire an additional 2.94% of the shares in Nordax Group AB (publ) (“Nordax”), subject to receiving approval by the Swedish Financial Supervisory Authority (“SFSA”). Nordic Capital is currently the largest shareholder in Nordax with a shareholding of 9.96%. The call option agreement entered into with R12, together with the already existing call option arrangement in place with Carnegie, entitle Nordic Capital to acquire a further total of 12.44% of the shares in Nordax.
Nordax is a leading niche bank in Northern Europe with approximately 120,000 loan customers and 28,000 savings customers. Nordax is focused on large, long duration personal loans and deposit accounts. Nordic Capital is one of the longest established and most active private equity investors in the Nordic region, with a strong track record from investments in the financial services sector, including Resurs Bank, Lindorff and Nordnet. Nordic Capital holds majority or minority positions in private or public companies, and acts as an active owner, contributing to the long term development of such companies through representation on the Board of Directors.
Nordic Capital has entered into a call option arrangement with R12 through which Nordic Capital has the right to acquire all Nordax shares currently held by R12. It is the intention of Nordic Capital to exercise this call option upon receipt of necessary approvals from the SFSA. Until SFSA approval has been obtained, and prior to any exercise of the call option, there will be no voting cooperation, veto rights or other agreements or understandings between Nordic Capital and R12 as regards exercise of influence over Nordax. A filing for SFSA approval that will give Nordic Capital the right to exercise such option was made when Nordic Capital acquired its initial shareholding in Nordax in October 2017.
[1] Nordic Capital refers to Nordic Capital Fund VIII and any, or all, of its predecessor funds depending on the context.
Press contact:
Elin Ljung, Director of Communication and Sustainability
NC Advisory AB, advisor to the Nordic Capital Funds
Tel: +46 8 440 50 10
e-mail: elin.ljung@nordiccapital.com
About Nordic Capital
Nordic Capital is a leading private equity investor in the Nordic region with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 11 billion through eight funds. The Nordic Capital Funds are based in Jersey and are advised by advisory entities, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com
