PE Firm Bids $820M To Ramp Up Stake In Swedish Bank

Private equity firm Nordic Capital and financial company Sampo announced a proposed cash offer on Thursday to purchase the outstanding shares of Swedish bank Nordax Group for 6.66 billion Swedish kronor ($820 million), solidifying themselves as the bank's largest shareholders.

The bid was made through a private investment vehicle established by Nordic called NDX Intressenter AB and offers 60 Swedish kronor per share for the more than 110.9 million outstanding shares, according to a statement announcing the transaction.

Finland-based Sampo Plc said it's expected to hold...

Already a subscriber? Click here to view full article