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NORWAY - Norvestor's Life Europe buys more shares in Life Scandinavia

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Norvestor Equity’s Life Europe AB has increased its shareholding in Norwegian health food retailer Life Scandinavia AS to 89%. The seller of the stake is Validius, which will continue to own 11% of the shares. Following the transaction, Norvestor owns 51% of Life Europe and the other owners include employees and the Life stores.

Life Scandinavia focuses on health and lifestyle and operates 170 Life stores in Norway. The company recorded sales of NOK 580m in 2005.

Life Europe acquired 40% of Life Scandinavia in April. In 2005, Norvestor established Life Europe and purchased three retail chains in Sweden with over 200 stores.

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