Nordic Capital and large shareholders of Intrum Justitia reach agreement on proposed revised terms for the combination of Intrum Justitia and Lindorff
December 13 2016
Nordic Capital Fund VIII, SEB Funds, AMF and Lannebo Funds have today, after discussions, agreed to certain proposed adjustments to the terms of the proposed combination of Intrum Justitia and Lindorff. With the proposed adjustments, the shareholders of Intrum Justitia would receive 55% of the shares in the combined entity, and Lindorff's shareholders would receive 45%. The proposed adjustments will be considered by the Board of Directors of Intrum Justitia.
SEB Funds, AMF and Lannebo Funds, representing 17.2% of the shares and votes in Intrum Justitia, have stated their support for the transaction with the proposed adjusted terms and confirmed their intention to vote in favour of the combination at the Intrum Justitia Extraordinary General Meeting on December 14, 2016.
"The combination of Lindorff and Intrum Justitia creates a strong and industry leading company with potential to create significant value for all shareholders and other stakeholders. The support from the three large Intrum Justitia shareholders forms a strong foundation for a supportive vote in the upcoming extraordinary general meeting, and for a constructive future co-operation among the key shareholders of the combined company, says Kristoffer Melinder, Managing Partner, NC Advisory AB, advisor to the Nordic Capital Funds.
The Board of Directors of Intrum Justitia will consider an amendment to the existing combination agreement reflecting the proposed revised terms, including the revised ownership portions. Further, the composition of the Board of Directors of the combined entity is proposed to be determined in consultation with the nomination committee and ultimately determined by a shareholder vote in Intrum Justitia following the closing of the proposed transaction. The proposed amendments to the combination are supported by Cidron 1748 S.à r.l. a company indirectly controlled by Nordic Capital Fund VIII, representing the shareholders of Lindorff. Should the Board of Directors of Intrum Justitia approve the proposed revised terms, the amended terms will be presented to the Extraordinary General Meeting where Intrum Justitia shareholders will vote on the combination.
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
November 30, 2016