FNG completes acquisition of the Ellos group
FNG Nordic AB (publ) (the "Company") has on 26 November 2019 completed the acquisition of the entire share capital of Ellos Group Holding AB (publ) (together with its subsidiaries, "Ellos Group"), an e-commerce leader in fashion and home furnishings in the Nordic region, with the strong brands Ellos, Jotex, Stayhard and Homeroom, which was announced by the Company's parent company FNG NV on 4 July 2019.
In connection with closing of the acquisition, the net proceeds from the SEK 1.5 billion senior secured bonds issued by the Company on 25 July 2019 were released from an escrow account and inter alia financed part of the purchase price and repayment of certain existing financial indebtedness of the Ellos Group. Further, the Company together with certain subsidiaries entered into a SEK 350 million super senior revolving credit facility to be used for general corporate purposes.
This information is information that FNG Nordic AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 8.30 CET on 27 November 2019.
For further information, please contact:
Dieter Penninckx, CEO, [email protected]
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