Nordstjernan invests in Salcomp
Nordstjernan AB (Nordstjernan) has today entered into an agreement under which it will acquire 11,653,581 shares, corresponding to 29.9 percent of the entire share capital and votes, of the Finnish listed company Salcomp Plc (Salcomp) from EQT II B.V. (EQT).
Further Nordstjernan has received an option to purchase EQT’s remaining 8,728,550 shares, corresponding to 22.4 percent, in Salcomp exercisable August 9 - August 16 this year. EQT has received an option to sell to Nordstjernan EQT’s remaining 8,728,550 shares in Salcomp exercisable August 17 - August 24 this year. If either Nordstjernan or EQT chooses to exercise their options, the acquisition will be subject to approval by the relevant competition authorities. After receiving such approval Nordstjernan would reach the 30 percent mandatory bid threshold according to the Finnish Securities Markets Act.
The parties have agreed not to disclose the terms of the transactions.
Salcomp, founded in 1975, is a global developer and manufacturer of mobile phone chargers. Its customers are the major mobile phone manufacturers. Salcomp had 2006 a turnover of 259 MEUR. More information can be found on www.salcomp.com
“Salcomp is a well managed company that has achieved solid results in a competitive industry”, says Tomas Billing, President of Nordstjernan. "During the eight years under EQT's ownership Salcomp's board and management have taken a number of strategic steps to improve the competitiveness of Salcomp."
“We have had good experience from making business in Finland through our investments in Ramirent and Exel, and we look forward to start working with Salcomp,” continues Tomas Billing.
Please refer questions to:
Tomas Billing, President of Nordstjernan, +46 8 788 50 18 or +46 707 666 33 46