JANUARY 31 2012
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 Orc-share 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 about the offer from Cidron Delfi Intressenter, please see www.cidronintressenter.com
For more information, please contact:
Mikael Widell, Communications Manager,
NC Advisory AB, advisor to the Nordic Capital Funds
Tel: +46 703 11 99 60
Mikael.widell@nordiccapital.com
About Orc Group
Orc is a leading provider of technology and services to the global financial industry with a focus on advanced trading, market making and brokerage. It provides solutions for trading and market access for buy and sell-side professionals, such as investment banks, market making and trading firms, stock exchanges, brokers, institutional investors and hedge funds. Orc's core products include options that are an integral part in risk management and analysis. The company is a global company, founded in 1987, with a local presence in every major financial centre. Orc has 400 employees and revenues in 2010 of SEK 923 mn (approx EUR 105 mn) and an annualized contract value (ACV) at year-end 2011 of SEK 656 mn (approx EUR 75 mn). For additional information, visit www.orc-group.com
About Nordic Capital
Since the start in 1989, Nordic Capital Private Equity Funds have invested in large and medium sized companies, primarily in the Nordic region. Nordic Capital creates value in its investments, through committed ownership and by targeting strategic development and operational improvements. The funds invest in companies in Northern Europe and in selected investment opportunities internationally. The most recent fund is Nordic Capital Fund VII with EUR 4.3 billion in committed capital, principally provided by international institutional investors, such as pension funds, asset managers and insurance companies. Nordic Capital Funds are based in Jersey, Channel Islands, and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK. Additional information about Nordic Capital is available on
www.nordiccapital.com