ICL plc ("ICL") has announced that it has sold 16.8% of ICL Invia to a private placement arranged by Enskilda Securities, a group of Finnish and international investors for EUR 235 million. ICL will remain the majority holder with 83.2% of the shares.
This transaction falls in line with ICL's strategic plan to restructure the company's assets in the Nordic region in order to become a leading pan-Nordic e-business service provider.
ARC Associates ("ARC"), a specialist investment banking and advisory firm to the TMT, financial services and property sectors, acted as a financial advisor to ICL in this transaction. Commenting, John Allen the Chairman of ARC, "This transaction on behalf of ICL illustrates the appetite of investors for high quality Nordic area IT services assets and allows ICL to release capital for reinvestment in its core business".
ICL is one of Europe's leading e-business service companies and employs more than 21,000 people in over 40 countries. The company designs, builds and operates e-Business solutions for customers in the financial services, telecoms, retail, government, utilities and travel markets.
ARC Associates is a specialist investment banking and advisory firm to the telecommunications, media, technology, financial services and property sectors.
Contact:
John Allen, Chairman
ARC Associates
+ 44 (0) 20 7614 4000