Swedish Bure sells interest in Nordic Capital funds

Bure has invested in Nordic Capital's funds since 1993 but did not commit to the firm's fifth fund, which closed at E1.5bn earlier this year.

The total consideration is expected to result in a net gain over book value of SKr146m. Bure's debt will also be immediately reduced to around SKr425m and then further reduced to SKr245m as the transaction is completed through three additional instalments to be paid out over the next 12 months.

Bure's decision to sell its interest in Nordic Capital's funds follows the firm's divestment of its holdings in InnovationsKapital's fund III in May this year.

‘The sale is in line with our established strategy to divest indirect holdings and to concentrate on our current portfolio of mainly unlisted companies,' said Lannart Svantesson, Bure's CEO.

Following the transaction Bure will have no outstanding commitments to Nordic Capital but will retain approximately eight per cent ownership in Molnlycke Health Care and ten per cent ownership in Elmo Leather. These holdings were acquired in parallel with Nordic Capital's funds.

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