Scandinavian Private Equity A/S: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Provider: Wright Reports
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Scandinavian Private Equity A/S Acquires Scandinavian Private Equity Partners A/S from Jyske Bank A/S, Spar Nord Bank A/S and Sydbank A/S
Scandinavian Private Equity A/S announced that it has entered into an agreement to take over all shares in the management company, Scandinavian Private Equity Partners A/S, with a view to subsequently merging the two companies. In the financial year 2013/14, SPEAS expects net savings of DKK 4.0m as a result of the acquisition. Scandinavian Private Equity Partners A/S is owned by Jyske Bank, Nykredit, Spar Nord Bank and Sydbank. In addition, a small stake is held by staff in the management company. The price agreed for the shares in the management company, including its cash reserves of DKK 19.4 million, is DKK 30.0 million. The Company's auditors, Deloitte, have assessed the value of the management company and finds the transaction value fair. The purchase price is paid by way of DKK 18.1 million in cash and 767 SPEAS shares. At an average share price of DKK 15,569 over the 10 previous trading days, the 767 SPEAS shares represent a market value of DKK 11.9 million. The owners of the management company have committed to not selling the shares before SPEAS has published its Annual Report for the financial year 2013/14. The 767 SPEAS shares used to pay for the shares in the management company represent 1.5% of the share capital and will reduce the Company's holding of own shares, which as of March 8, 2013 totals 5,081 own shares, equivalent to 10.2% of the share capital. The Company's holding of own shares will subsequently amount to 8.6%.
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