VNV Global Ltd. (OM:VNV SDB) and General Atlantic LLC together with a consortium led by Pierre Siri and Henrik Persson completed the acquisition of majority stake in Hemnet Service HNS AB from Fastighetsbyrån Västra Göteborg AB and others.
January 09, 2017
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VNV Global Ltd. (OM:VNV SDB) and General Atlantic LLC together with a consortium led by Pierre Siri and Henrik Persson signed an agreement to acquire majority stake in Hemnet Service HNS AB from Fastighetsbyrån Västra Göteborg AB and others for SEK 2.1 billion on December 16, 2016. VNV Global Ltd. will acquire 5.9% stake for SEK 93.3 million, General Atlantic will become a majority shareholder and the consortium, consisting of Henrik Persson, Pierre and other investors will take a minority stake. Fastighetsbyrån Västra Göteborg will sell both, its current 34% stake and an additional 8% stake in Hemnet, which is expected to be acquired by Fastighetsbyrån by exercising an option. As part of the investment, Henrik Persson, Pierre Siri, and Chris Caulkin of General Atlantic will join the Board of Directors. Hemnet Service HNS AB reported a revenue of SEK 182 million and EBIT of SEK 46.5 million for the year ended December 31, 2015. Acquisition is not conditional on any regulatory approvals and is expected to be completed in January 2017.
Matthew W. Abbott, David K. Lakhdhir, Wendy Semel, Dale M. Sarro, Pearl Yuan-Garg, Patrick N. Karsnitz and Robert C. Fleder of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisors for General Atlantic LLC. Lenner & Partners Corporate Finance AB acted as financial advisor to Swedbank AB (publ), majority parent of Fastighetsbyrån. Lazard acted as financial advisor for General Atlantic LLC.
VNV Global Ltd. (OM:VNV SDB) and General Atlantic LLC together with a consortium led by Pierre Siri and Henrik Persson completed the acquisition of majority stake in Hemnet Service HNS AB from Fastighetsbyrån Västra Göteborg AB and others on January 9, 2017.
VNV Global AB (publ) is a Sweden-based investment company that conducts operations with the business idea of identifying and investing in assets with great value increase potential, with a focus on companies with network effects. VNV Globalâs investment strategy is to invest primarily in private equity with high value increase potential. The Company invests globally, regardless of the size. VNV supports entrepreneurs that solve real problems on the large markets through technology. The Company's investments revolve around Digital Health, Mobility, Marketplace, Classifieds and Other sectors. Its portfolio consists of BlaBlaCar, Babylon, Property Finder och Voi Technology to name a few. VNV Global operates in Stockholm, Amsterdam, and Cyprus.
VNV Global Ltd. (OM: VNV SDB) and General Atlantic LLC together with a consortium led by Pierre Siri and Henrik Persson completed the acquisition of majority stake in Hemnet Service HNS AB from Fastighetsbyrån Västra Göteborg AB and others.
VNV GLOBAL AB 
