Nordic Business Report-October 26, 2006-Nordic private equity investor CapMan Plc exits Nordkalk Corporation
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Finland-based Nordic private equity investor CapMan Plc said on Thursday (26 October) that its funds Finnventure Fund V and CapMan Equity VII have divested their holdings in the Finnish limestone products company Nordkalk Corporation.
The funds sold their combined 26% holding mainly to the other investors Rettig and Ahlstrom Capital.
CapMan said that it hopes to close the transaction by the end of the year, but warned that the international approval process may delay the final closing until early next year.
The exit from Nordkalk will move Finnventure Fund V considerably closer to carry, but it will not have a significant impact on CapMan's result for 2006.
Nordkalk produces high quality limestone-based products for the paper, steel and building material industries, as well as for environmental care and agriculture. The company has 1,350 employees and reported net sales of EUR269.6m in 2005. Nordkalk has operations in Finland, Sweden, Norway, Estonia, Lithuania, Poland, Germany and Russia.
CapMan, with offices in Helsinki, Stockholm, Copenhagen and Oslo, manages Nordic buyout, mezzanine, technology, life science and real estate funds with approximately EUR2.6bn in total capital. CapMan is listed on the Nordic Exchange in Helsinki.
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