Nordic Capital sells NOK 780m stake in Europris

The partial exit sees Nordic Capital sell a 12% stake – consisting of 20 million shares – at NOK 39 per share, reducing its shareholding in Europris from 44.7% to 32.7%.

Nordic Capital's NOK 39 per share sale price represents a discount on Europris' listing price of NOK 43 per share. The stock has fluctuated between a NOK 43.90 peak and bottom of around NOK 38 since the IPO, though this should also be seen in the context of a very volatile Norwegian stock market.

The GP has agreed to a 90-day lock-up period on its remaining Europris shares following the sell-down.

ABG Sundal Collier and Merrill Lynch International acted as joint bookrunners on the sale.

Previous funding
Nordic Capital listed Europris in an IPO that valued the company at NOK 7.2bn on the Oslo Stock Exchange in June 2015.

The GP had bought Europris in an SBO from IK Investment Partners three years prior, which saw the vendor reap 2.3x money.

Company
Europris is a Norwegian discount broadline retailer headquartered in Fredrikstad and founded in 1992.

Advisers
Vendor – Moelis & Company (corporate finance); Advokatfirmaet Selmer DA (legal); Latham & Watkins (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Nordics
• Consumer
• Nordic Capital
• Norway
• ABG Sundal Collier
• Latham & Watkins
• IK Investment Partners
• Partial sale