EQT sells 22% of listed Duni

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EQT I and EQT III has, through Duni Holding AB, sold 10,400,000 shares in Duni AB, which represents 22.13% of the shares in the business, to Swedish and international unnamed investors. Melby Gard Investerings AB has acquired a 5.72% share and now holds 29.99% of the business. After the divestment EQT owns 16.72% of Duni.

EQT floated Duni for EUR250m on the OMX Nordic Exchange in November last year (January 2008, page 54). The listing was approximately 2x oversubscribed. In the summer of 2007, it was mounting speculation whether EQT would list the catering supplies business due to the market turbulence, but the listing in November was described as one of the last before the IPO window became more difficult.

The buyout house acquired 50% of the shares in the company in 1997 from the Bonnier Group for an estimated SEK 4.7bn. In 2001, the remaining 50% was acquired for an undisclosed sum (November 2001, page 32). During its ownership, EQT invested heavily in the business and made add-ons to support growth.