EQT Opportunity Fund acquires Danish furniture manufacturer Bodilsen A/S

Nordic Business Report-November 2, 2006-EQT Opportunity Fund acquires Danish furniture manufacturer Bodilsen A/S
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Danish furniture manufacturer Bodilsen Holding A/S said on Wednesday (1 November) that it has agreed to sell its operating subsidiary Bodilsen A/S to Relbom Holding A/S, a holding company owned by EQT Opportunity Fund.

The agreement is based in preliminary talks announced initially on 7 October. The discussion partner was at the time not disclosed.

The purchase price is DKK1m, which will be used to cover the transaction costs of the deal, but in addition to the purchase consideration Bodilsen A/S will cancel Bodilsen Holding's DKK17m debt to Bodilsen A/S. The buyer has also agreed to refinance Bodilsen with a cash infusion of approximately DKK100m.

The deal has been approved by Bodilsen Holding's main bank connections, which will participate in the financial arrangements by writing off a DKK190m credit facility.

Bodilsen, based in Nykobing Mors in Denmark, manufactures furniture and laminated wood products. It has some 820 employees and reported a turnover of DKK940m in 2005. Bodilsen is listed on the Nordic Exchange in Copenhagen.

One British pound (GBP) is worth approximately 11.03 Danish kroner (DKK).

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