GÖTEBORG, Sweden--(BUSINESS WIRE)--Regulatory News:
Bure Equity AB (STO:BURE)
Bure Equity AB has signed an agreement with Livränteanstalten Hereditas (“Hereditas”) to acquire 20.11% of Fondbolaget Fondita Ab (“Fondita”), a leading independent manager of equity funds.
Fondita, based in Helsinki, Finland, is specialised in management of equity funds for institutions, corporations and private investors. The company’s investment philosophy is based on active stock picking and has so far generated a return clearly above the market. Fondita has been recognised with several awards from fund rating institutes such as Morningstar, Lipper and others. The assets under management amount to EUR 770 million.
“We are pleased by the opportunity, as owners, to take part in further developing Fondita. The investment is well in line with Bure’s focus on companies in the financial services sector,” says CEO Henrik Blomquist.
“It is gratifying for Fondita to gain an experienced owner like Bure. We see this as an important step in our drive to target the institutional market in Sweden, which we regard as a natural move for us,” says Fondita’s founder and Chairman Magnus von Knorring.
The transaction is expected to be completed within three months and is dependent among other things on the fulfilment of customary conditions, such as approval from the regulatory authorities in Finland.
Bure Equity AB (publ)
The information contained herein is subject to the disclosure requirements of Bure Equity AB under the Swedish Securities Market Act. The information was publicly communicated on 25 June 2014 8:30 a.m. CET.
Bure is a listed investment company with ownership interests in Nordic companies. The current portfolio consists of 7 portfolio companies, of which 5 are listed.
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