Apax buys Evry in a £380m deal

first_imgMonday 8 December 2014 8:37 pm whatsapp Show Comments ▼ Kate McCannKate McCann is a reporter at City A.M. She covers politics and insurance and can be contacted at [email protected] Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Arrested in Ohio on Attempted ChildThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap whatsappcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramHero Wars This game will keep you up all night! Hero Wars MoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus Eliminator Apax buys Evry in a £380m deal Tags: NULL Share PRIVATE equity funds advised by Apax Partners have agreed to buy Norwegian technology firm Evry in a deal valuing the shares at 4.27bn Norwegian kroner (£380m).Evry’s board of directors unanimously recommended the 16 crowns per share offer and Apax has already secured the acceptance for more than 70 per cent of the shares, it emerged yesterday. Evry, one of the largest IT companies in the Nordics, will continue to be headquartered in Norway and will maintain the integrity of its brand, the company said in a statement yesterday. Arve Johansen, chairman of the board at Evry, added: “The board believe that the offer safeguards the interests of all of Evry’s stakeholders and are confident that the Apax fund is a solid new owner for Evry. “The offer delivers a considerable cash premium to our shareholders and the board considers the offer price to recognise the strategic value of Evry.”Chief executive Terje Mjøs added that the Apax deal strengthens the appeal of the IT industry in Norway to external investors and will serve to accelerate and expand the business in years to come. The deal was prompted by falling oil prices across the world, which have had an impact on investments in the industry and a knock-on effect on the IT world. In the third quarter, net income dropped to 77m kroner from 152m previously.Apax, the London-based private-equity firm, used Bank of America Merrill Lynch and DNB as advisors on the deal, while Evry plumped for ABG Sundal Collier Holding. last_img

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