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Tieto Acquiring EVRY: Both Local Champions in the Nordics, but Very Different Firms
Jul 17, 2019, by Dominique RaviartTieto recently announced its intention to acquire EVRY. The company is offering 0.12 Tieto share and NOK 5.28 in cash per EVRY share. EVRY shareholders will receive €0.2bn in cash and 37.5% of Tieto’s capital, valuing EVRY to ~€1.4bn ($1.6bn). Also, Tieto is taking over the net debt of EVRY (NOK 6bn/$0.7bn). The acquisition will give birth to the largest Nordics-he[...]
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EVRY To Be Taken Private by Apax Partners: Tieto Misses the Opportunity to Acquire a Company in Recovery
Dec 08, 2014, by Dominique RaviartEVRY has announced its largest shareholders, Posten Norgen and Telenor Business Partner Invest are to sell their shares (representing a combined 70.24% of capital) to Apax Partners. Apax Partners has secured an additional 3.15% of EVRY shares from Folketrygdfondet (Norway’s government pension fund) and is to launch a NOK 16 per share all-cash public tender. The tender values EVRY at ~$6[...]
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EVRY Sale Upcoming?
Aug 29, 2014, by Dominique RaviartEVRY has announced that it is considering strategic opportunities including a sale. EVRY is in theory an attractive target: the company has a sizable presence in a region with short- to mid-term growth potential: It is the largest IT service vendor in Norway ($1bn in revenues, excluding its financial services unit). Norway, with an economy that is heavily influenced by oil & ga[...]