CapMan sells remaining shares in MQ

New shareholder Danske Capital - an international asset manager and part of the Danske Bank Group - has bought an 8.2% stake in MQ.

CapMan listed its portfolio company MQ in June 2010 and reduced its shareholding from 52% to 28% as part of the IPO. Share price has decreased by almost 40% since then.

The financial target expected at the time of the listing was that MQ achieved a growth rate of 10% per year, which did not occur. In 2009/2010, profits stood at 10% but have been halved since then.

CapMan acquired its majority holding in MQ Sweden AB and the chain's 89 stores in Sweden in April 2006. The original investment was sourced from the CapMan Buyout VIII and CapMan Equity VII funds.

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