DECEMBER 14 2016
The Extraordinary General Meeting of Intrum Justitia has approved the proposed combination of Lindorff and Intrum Justitia and authorized the Board of Intrum Justitia to issue new shares as compensation for the shares in Lindorff. Closing of the transaction remains subject to approvals from regulatory authorities in relevant jurisdictions and the EU competition authorities. The transaction is expected to close during the second quarter of 2017.
On November 14, 2016, Nordic Capital Fund VIII, the indirect majority shareholder of Lindorff, and Intrum Justitia announced the intention to combine Lindorff and Intrum Justitia, thereby creating the industry leading provider of credit management services ("CMS"). The combined entity is, through its scale and diversification, ideally positioned to capture the strong market growth in the CMS industry. The combination is expected to provide material benefits for all stakeholders and create significant shareholder value through annual cost synergies estimated at SEK 0.8bn (EUR 80mn) and significant further revenue synergies.
"Nordic Capital is pleased that Intrum Justitia's Extraordinary General Meeting approved the transaction and looks forward to continuing along the path towards completion of the transaction. The combination of Lindorff and Intrum Justitia will create the industry leading provider of credit management services with potential to create significant value for all shareholders and other stakeholders. Preparations ahead of closing, which is subject to regulatory and competition authority approvals, are ongoing according to the normal routines," says Kristoffer Melinder, Managing Partner, NC Advisory AB, advisor to the Nordic Capital Funds.
More details about the combination is available at investor.lindorff.com
Katarina Janerud, Communication Manager,
NC Advisory AB, advisor to the Nordic Capital funds
Tel: +46 8 440 50 69
About Nordic Capital
Nordic Capital private equity funds have invested in mid-market companies primarily in the Nordic region since 1989. Through committed ownership and by targeting strategic development and operational improvements, Nordic Capital enables value creation in its investments. Nordic Capital Funds invest in companies in northern Europe and in selected investment opportunities internationally. The most recent fund is Nordic Capital Fund VIII with EUR 3.5 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Funds are based in Jersey, Channel Islands, and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com