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Provider: Reuters Investment Profile
Provider: Wright Reports

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CapMan PLC Exits Nice Entertainment Group

Monday, 23 Sep 2013 02:36am EDT 

CapMan PLC announced that funds managed by the Company have signed an agreement to sell 100% of their holdings in Nice Entertainment Group (Nice), a pan-Nordic TV content production group, to Modern Times Group MTG AB (publ) (MTG), a Swedish entertainment broadcasting company. As a result of the transaction, Nice will become part of MTG's content production and distribution subsidiary MTG Studios. The closing of the transaction is subject to regulatory approval by the Swedish and Norwegian competition authorities and is expected by the end of October. CapMan funds hold a majority share in Nice, while Nice's management and key employees are substantial minority shareholders.