Business Services Industry

Ledstiernan acquires Speed Ventures

Nordic Business Report, May 27, 2002

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NORDIC BUSINESS REPORT-27 May 2002-Ledstiernan acquires Speed Ventures (C)1994-2002 M2 COMMUNICATIONS LTD http://www.m2.com

The Swedish venture capital company Ledstiernan AB announced today (27 May) that it was in the process of acquiring the Dutch-based venture capital company Speed Ventures NV.

Ledstiernan said that the acquisition would generate extensive cost synergies and strengthen its position as a leading venture capital company in the mobile communication sector.

The company pointed out that the completion of the acquisition depended on some conditions being fulfilled, such as acquiring at least 95% of the shares in Speed Ventures. Ledstiernan said that it had entered into agreements with 71% of Speed Ventures' shareholders and a further 15% of shareholders had expressed their preliminary approval of the deal.

Speed Ventures' investment portfolio consists of eleven mostly Nordic companies engaged in IT and telecommunications.

The value of the transaction is estimated to be approximately SEK167m.

((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))

COPYRIGHT 2002 M2 Communications Ltd.

COPYRIGHT 2008 Gale, Cengage Learning

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