EQT Group Sells Stake in Scandic Hotels
Sunstorm Holding AB, controlled by EQT V Ltd and Accent Equity 2003, has initiated the sale of approximately 15.5 million shares in the hotel company Scandic Hotels Group.
Sunstorm Holding AB, an entity controlled by EQT V Ltd and Accent Equity 2003, began the process on August 31, 2016, to sell approximately 15.5 million shares in Scandic Hotels Group. This transaction represents a significant divestment from its holding in the hotel chain.
The sale is being conducted through an accelerated bookbuilding process, where the share price will be determined through offers to a select group of Swedish and international institutional investors. Skandinaviska Enskilda Banken AB (publ) and ABG Sundal Collier AB are acting as joint bookrunners for the placement.
Sunstorm Holding AB currently holds over 57.6 million shares in Scandic, corresponding to approximately 56 percent of the total number of shares and votes in the company. The sale is part of EQT's strategy to realize value from its investments.
The bookbuilding period commenced immediately and may close on short notice. Restrictions apply to the distribution of information and the offering of shares in the United States, Canada, Australia, and Japan.