ABN Newswire is a business newswire and press release distribution service for listed companies on stock exchanges globally. ABN Newswire distributes company announcements to the professional platforms, finance portals and syndicates important corporate news to a wide variety of news aggregators and financial news systems.
Stockholm, Sweden, Jan 22, 2008 - (Hugin via ABN Newswire) - Ratos, together with other owners, has decided on a refinancing of Bisnode, whereby Ratos will receive a cash payment of approximately SEK 605m. This refinancing has been made possible by the positive earnings trend in recent years.
Bisnode is a leading European supplier of digital business information and services within market, credit and product information. Operations are conducted in five business areas and the company has operations in 19 European countries. Bisnode has approximately 3,000 employees.
Bisnode has had a strong sales and earnings trend since Ratos's acquisition. Sales have risen by SEK 700m to approximately SEK 4,000m while the EBITA margin has increased from 12% in 2005 to 17% for the first nine months of 2007.
Ratos CEO, Arne Karlsson, comments: "Bisnode has seen favourable development for a long time and will post record earnings for 2007. The company has a strong balance sheet, good cash flows and our assessment is that the company's future prospects remain positive. Against this background we are now effecting a refinancing in order to give the company a more effective capital structure."
As result of the refinancing, Ratos will receive SEK 605m, of which SEK 360m will be paid in January and the remaining SEK 245m in April. Ratos's consolidated book value for Bisnode will therefore be adjusted downwards in conjunction with each payment, by a total of SEK 605m. The refinancing will have no impact on Ratos's earnings.
Ratos's holding in Bisnode amounts to 70%.
For further information, please contact: Arne Karlsson, CEO Ratos, +46 8 700 17 00 Clara Bolinder-Lundberg, Head of Corporate Communications, Ratos, +46 8 700 17 63
Financial calendar from Ratos: Year-end report 2007 21 February 2008 AGM 2008 9 April 2008 Interim report January - March 2008 8 May 2008 Interim report January - June 2008 22 August 2008 Interim report January - September 2008 7 November 2008
Ratos is a listed private equity company. The business concept is to maximise shareholder value over time by investing in, developing and divesting primarily unlisted companies. Ratos offers investors a unique investment opportunity. The equity of Ratos's investments is approximately SEK 11 billion and a market capitalisation of approximately SEK 26 billion. Ratos's holdings include AH Industries, Anticimex, Arcus Gruppen, Bisnode, Camfil, Contex, DIAB, EuroMaint, GS-Hydro, Haendig, Haglöfs, HL Display, HÅG/RH/RBM, Hägglunds Drives, Inwido, Jøtul, Lindab, MCC, Medifiq Healthcare, Superfos and Other holdings