Ratos to acquire Stofa from TeliaSonera
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or demands made in the exchange rules.
Ratos has concluded an agreement to acquire 100% of the shares in the Danish triple-play-operator Stofa for a purchase price (enterprise value) of DKK 1,090m. The seller is TeliaSonera. Ratos will provide equity of approximately DKK 528m.
Stofa is a Danish triple-play-operator (broadband, cable TV and telephony) which provides some 350,000 households with cable TV and 40% of them with broadband as well. The services are delivered in close cooperation with 300 antenna associations throughout Denmark. In addition, Stofa also sells to final subscribers who are offered interactive TV services (pay TV), broadband and IP telephony.
Stofa was founded in 1959 and the company was acquired by Telia in 1995. Today, Stofa is Denmark's second-largest supplier of cable TV and the fourth-largest broadband provider. Stofa led the introduction of broadband over the TV network in Denmark and has been quick to offer its customers digital TV, including an advanced box that offers customers a wide range of interactive services. Stofa has 470 employees and 2009 sales totalled DKK 1,024m with an operating profit (EBITA) of DKK 92m. The head office is in Horsens on Jutland, Denmark.
"Stofa has a strong position in the Danish cable TV and broadband market. Major investments have been made in technology and networks in recent years in order to achieve high quality and the capacity to enable a broader services offering. Stofa cooperates with a large number of antenna associations and by offering an even more interesting content and better services for customers, sales and profitability are expected to improve," says Ratos CEO Arne Karlsson.
Ratos's holding will amount to 100%. The purchase price (enterprise value) for the acquisition amounts to DKK 1,090m, of which Ratos will provide equity of approximately DKK 528m.The acquisition is scheduled for completion during the third quarter of 2010.
For further information, please contact: Arne Karlsson, CEO Ratos, +46 8 700 17 00 Emma Rheborg, Head of Corporate Communications and IR Ratos, +46 733 80 22 63
Financial calendar from Ratos: Interim Report January - June 2010 20 August 2010
Interim Report January - September 2010 4 November 2010
Ratos is a listed private equity company. The business concept is to maximise shareholder value over time by investing in, developing and divesting primarily unlisted companies. Ratos offers investors a unique investment opportunity. Ratos's equity is approximately SEK 15 billion and has a market capitalisation of approximately SEK 32 billion. Ratos's holdings include AH Industries, Anticimex, Arcus Gruppen, Bisnode, Camfil, Contex, DIAB, EuroMaint, GS-Hydro, Hafa Bathroom Group, Haglöfs, HL Display, Inwido, Jøtul, Lindab, MCC, Medisize, SB Seating, Superfos and Other holdings.