Hannes Snellman Counsel to SpectrumOne on Its Acquisition of 28% of the Shares in Eniro
12 January 2021
Hannes Snellman advised SpectrumOne AB, a technology company listed on Nasdaq First North Growth Market, on its acquisition of 28% of the shares and votes in Eniro AB, a Nordic digital marketing and search service company listed on Nasdaq Stockholm. The acquisition makes SpectrumOne the largest shareholder of Eniro. The acquisition comprised in aggregate 188,862,265 series A preference shares, corresponding to 28% of the outstanding shares and votes in Eniro, from sellers Theodor Jeansson, MGA Placeringar AB, Hajskäret Invest AB, Martin Bjäringer, Thomas Krishan, and Patrik Enblad. The aggregate purchase price amounted to SEK 160 million, of which SEK 61 million was paid in cash and SEK 107 million in the form of vendor notes. For the purpose of the acquisition, SpectrumOne took out bridge loans in the amount of SEK 55 million. SpectrumOne intends to refinance the vendor notes and the bridge loans through a SEK 160 million new issue of shares with preferential rights for SpectrumOne’s shareholders.