Nordic Capital and CVC sell Cloetta shares

Nordic Capital and CVC's respective holding companies Cidron Pord and Godis Holding together sold 15.6% of Cloetta, a stake worth SEK 792m. The transfer of 45 million B-shares was conducted through an accelerated bookbuild.

The shares were distributed in a placing to Swedish and international institutional investors. The initial deal size was increased by 50% from 30 million shares to 45 million B-shares in order to meet the strong demand.

After the sale Nordic Capital and CVC will together own close to 22.3% of Cloetta. Nordic Capital will own 12.5% of the capital (36 million B-shares) and CVC will own 9.9% (28.4 million B-shares).

Cloetta chairman Lennart Bylock increased his holding by acquiring an additional 50,000 B-shares. Bylock now owns 250,000 B-shares in total.

Company
Based in Malmö and founded in 1862, Cloetta is a Swedish confectionery company present in the Nordic region, the Netherlands and Italy.

Cloetta manufactures sugar confectionery, chocolate products, pastilles and chewing gum. Its products are sold in more than 50 countries worldwide.

People
Lennart Bylock is the chairman of Cloetta.

Advisers
Vendors – Carnegie Investment Bank (Bookrunners); Handelsbanken Capital Markets (Bookrunners).

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• Topics
• Nordics
• Exits
• Consumer
• Now researching
• Sweden
• CVC Capital Partners
• Nordic Capital
• Partial sale