SWEDEN - Industry Capital sells Prevesta to Block Watne Group for SEK 1.9bn

Block Watne Group (BWG), one of Norway’s leading housebuilders and listed on Oslo Børs, has entered into an agreement with Industri Kapital's 2004 Fund to buy 100 per cent of the shares in Prevesta, Sweden’s leading producer of prefabricated houses with the brands Myresjöhus and SmålandsVillan. The purchase price amounts to SEK 1,900m (approx. EUR 204m) which includes the transfer of debt and shareholder loans of SEK 381m (approx. EUR 41m). The consideration consists of approximately SEK 1,215m in cash (approx. EUR 131m) and 6,502,242 shares in BWG (representing approx. 12.6% of the shares in BWG after the transaction). Following the transaction, the Industri Kapital 2004 Fund will become one of the largest shareholders in BWG.