CapMan is to aquire the remaining 49% of Norum from its minority shareholders. The sale is an exercise of the minority shareholder’s put option to sell remaining shares in the company to CapMan Plc. CapMan aquired a majority stake in Norum in August 2008.
The purchase price amounts to approx. EUR 3.6 million, and will be financed with close to equal amounts in cash and a direct share issue to the sellers. The Board of Directors of CapMan Plc. has approved the issue of 2,216,541 new shares in CapMan Plc B shares for this purpose. The sellers, who consist of the company’s management, will increase their holdings in CapMan Plc. to 4,3 % following the transaction.
Norum Private Equity Advisors provides equity for fast growing, small and medium-sized, industrial or service companies operating in Russia, primarily at the expansion stage. Norum is currently advising three private equity funds: Norum I, Norum II and Norum Russia Fund III.
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