EQT acquires Scandic Hotels
The Swedish fund EQT V today announced the acquisition of Scandic Hotels AB, the largest hotel chain in the Nordic region, from Hilton Hotels Corporation.
Scandic Hotels AB has a total of 132 hotels in northern Europe. In 2006 the company had 5700 employees and reported sales of approximately SEK 6 billion.
The chain is known to be the most efficient hotel chain in the Nordic Region, with an exceptional position in the market. The Scandic brand is familiar to over 90 per cent of the population of the Nordic region.
The transaction has yet to be approved by competition authorities.
Read more
| Fund | EQT V LP Argentum share 0.82% |
| Portfolio Company | Scandic Hotels |
| Date of Transaction | 2007-03-02 |
| Transaction | Acquisition |
| Seller | Hilton Hotels Corporation |
| Buyer | EQT V LP |
| Size of Transaction | |
| Ind. Focus | Consumer |
| Geography | Sweden |
| Stage | Large-cap buyout |