Scandinavian Private Equity A/S

  • SPEAS is an investment company investing in private equity funds. The Company is listed on Nasdaq Copenhagen.
  • SPEAS invests in a portfolio of buy-out funds active in the Nordic region, both funds primarily investing in a single country in the Nordic region and funds investing in Europe. Nordic buy-out funds have historically generated attractive returns.
  • On 11 June 2019, SPEAS entered into an agreement to sell its private equity portfolio to Cubera VIII LP, which is advised by Cubera Private Equity – a leading investment firm specialized in secondary transactions in the Nordic private equity market and operating out of Oslo and Stockholm.
  • The sale is expected to be completed during Q3 2019 and is conditional on the usual conditions for such a transaction, including the consent of the respective funds.
  • The total sales price corresponds to slightly above the most recently published book value of the portfolio at 31 January 2019. The sales price is calculated in different currencies (EUR, SEK and NOK), and the final proceeds from the sale are thus affected by the exchange rate development. The proceeds are also affected by distributions or capital calls before the sale is completed.
  • The Board of Directors will take steps to distribute the proceeds after the completion of the sale. The distribution is expected to take place through an extraordinary dividend followed by a liquidation of the company.
  • Based on exchange rates on 11 June 2019, the Board of Directors expects that, after estimated costs, etc., a total amount of approx. DKK 3,750 pr. share before withholding tax can be distributed as extraordinary dividend and liquidation proceeds. Distribution and liquidation are expected to be completed within 6 months of the completion of the sale.
  • Since 2014, SPEAS has distributed a total dividend of DKK 23,400 per share (overview).

SPEAS is classified as a tax-exempt investment company. Please refer here for more information on the taxation of SPEAS shares.

Private equity is a long term investment. It is therefore not recommendable to invest in a listed private equity fund-of-funds company with expectations of a short term gain.

Annual General Meeting
SPEAS held its Annual General Meeting on Thursday 23 May 2019.

It was resolved to distribute dividend of DKK 1,200 per share. Dividend was distributed on 28 May 2019.