This press release is for information purposes. It does not constitute an offer to purchase or a solicitation of an offer to sell securities. Nordic Capital Fund VII ("Nordic Capital") today announced that it has acquired Orc Group AB ("Orc"), a leading provider of technology and services to the global financial industry, through a recommended public tender offer. The offer was successfully completed on January 27, with an acceptance level of 95.5 percent. On December 19, 2011, Cidron Delfi Intressenter AB ("Cidron Delfi Interessenter"), a company indirectly wholly owned by Nordic Capital, announced a recommended offer to the shareholders in Orc, listed on NASDAQ OMX Stockholm, for SEK 86.00 in cash per share, corresponding to an aggregate offer value for all shares in Orc of approximately SEK 2,021 mn (approx EUR 230 mn). The offer was successfully completed on January 27 2012, with an acceptance level of 95.5 percent.
In order to enable shareholders who have not yet accepted the offer to tender their shares, Cidron Delfi Intressenter has decided to extend the acceptance period until February 14, 2012. Cidron Delfi Intressenter intends to act to have the Orcshare de-listed from NASDAQ OMX.
"Nordic Capital has for some time followed the development of Orc with great interest, and believes that significant opportunities exist to further develop the businesses within Orc under concentrated and focused ownership outside of the stock exchange where Nordic Capital can contribute significant capital resources as well as an active, long-term ownership commitment. It is particularly exciting to nominate Per E. Larsson as the new Chairman of the Board of Orc", states Fredrik Näslund, Partner, NC Advisory AB, advisor to Nordic Capital Fund VII.
Per E. Larsson was previously CEO of OMX, UBS in Middle East North Africa and Borse Dubai, Chairman of the Board of the Stockholm Stock Exchange, as well as a member of the Board of Orc between 1997 and 2006.
"It will be fun and exciting to work with Orc again. I have followed Orc from a distance with great interest and I look forward to taking part in the development of Orc in a private environment", says Per E. Larsson.
For more information, please contact:
Mikael Widell, Communications Manager,
NC Advisory AB, advisor to the Nordic Capital Funds