Nordic M&A News
April 12, 2018

- Denmark -

Bestseller acquires clothing brand from French Connection (Borsen)

Bestseller acquires the clothing brand Toast from the British fashion house Fench Connection for around DKK 199m which has caused the French Connection share to increase by approximately 14 percent after the news of the acquisition. "We are proud to welcome Toast in our Bestseller family" says Anders Holch Povlsen in a press release, CEO of Bestseller.

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- Sweden -

Kinnevik AB invests USD 41m in Livongo Health inc. (Realtid)

Kinnevik AB invests USD 41m in Livongo Health Inc. as part of a total capital of USD 105m, through which Kinnevik increases its shares to 8 percent. Livongo is a digital healthcare company based in the United States that helps people with chronic diseases to live better and healthier lives. "We are pleased to take a leading role in Livongo and to increase our shareholding in the company. The investment in Livongo is an important part of our strategy of identifying the winners in our private portfolio" says Georgi Ganev, CEO of Kinnevik.

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Footway acquires e-commerce store (Vafinans)

Footway has acquired the e-commerce store Barnskospecialisten, a webshop focused on children's shoes, according to a press release. No financial details in the deal are stated. "The children's specialist has great knowledge and stands for a niche expert competence, which strengthens Footway's position in the market" says Footway.

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- Norway -

Statoil and Total increase their operations in the Gulf of Mexico (e24)

The two oil companies have participated in a bankruptcy auction of some of Cobalt International Energy's assets. The companies delivered the winning bid for a total of NOK 2.6bn, buying Cobalt's share of 60 percent of the deep-water found North Platte, according to a press release. Statoil now has 40 percent of the shares while Total increases its shares from 40 to 60 percent and acts as the operator.

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- Finland -

No news to report

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Prepared by Oliver Jacobsen