Formica Capital decreases ownership in Scandic Hotels Group
May 7, 2021
Formica has reduced its holding in Scandic Hotels Group. Ownership after divestment is 4,86%.
As part of Formica’s capital management, Formica made a financial investment in Scandic in March 2020, in the midst of the Covid pandemic. Since then Formica has, together with the other owners, supported the company through a new issue of shares and through the recently announced issue of a convertible loan.
In order not to further increase Formica’s exposure to Scandic following the convertible loan issue, Formica has now decreased its holding, giving cause to a notification announcement. Formica’s ownership after this divestment is 4.86%.
For more information, please contact:
Olof Cato, CEO, Formica Capital Tel: +46 70 926 66 55 firstname.lastname@example.org