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 partly closed on 10 July 2019 as the Company’s interests in EQT V, EQT VI, and Norvestor VI were transferred to the buyer.
The remaining part of 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 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.