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 was finally closed on 1 September 2019 and all the Company’s interests in private equity funds are now transferred to the buyer.
The Board of Directors intends to initiate a solvent liquidation of the Company and convene an extraordinary general meeting to be held on 9 October 2019 with such agenda.
The Board of Directors expects that, after estimated costs, etc., a total amount of additional approx. DKK 950 per share can be distributed as liquidation proceeds within 6 months of the completion of the sale.