Press Release Ferronordic Machines AB - Ownership Change
Russian CE Distribution Investors AB has sold its entire holding of 2,284,100 ordinary shares in Ferronordic Machines. The purchaser of the shares is Skandinavkonsult i Stockholm AB, a company owned by the Swedish investor and entrepreneur Håkan Eriksson and his family.
Following the transaction, Skandinavkonsult i Stockholm AB holds 2,341,500 ordinary shares in Ferronordic Machines, corresponding to 22.3% of the total number of shares and 23.3% of the total number of votes.
The terms of the transaction are not public.
The transaction is not expected to result in any changes of the company’s strategy, operations or current dividend policy.
About Ferronordic Machines
Ferronordic Machines is the authorized dealer of Volvo Construction Equipment and Terex Trucks in Russia. The company began its operations in June 2010 and has expanded rapidly across Russia and is today well established in all federal districts with almost 70 outlets and approximately 700 employees. In addition to distributing and providing aftermarket support to Volvo Construction Equipment machines, the company has also been appointed aftermarket dealer for Volvo and Renault Trucks as well as dealer for Volvo Penta in certain parts of Russia. The company has also signed up some other high quality brands such as Logset and several attachment manufacturers. The vision of Ferronordic Machines is to be regarded as the leading service- and sales company in the CIS markets. The preference shares of Ferronordic Machines are listed on NASDAQ OMX First North Premier. The company has appointed Avanza Bank AB as its Certified Advisor.
For more information, please contact:
Ferronordic Machines discloses the information herein pursuant to the Securities Markets Act and/or the Financial Instruments Act. The information was submitted for publication on 15 October 2015, 17:45 CET.
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Ferronordic sells its Russian business
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