If P&C Insurance Holding Ltd acquires 100% of the shares in Viking Redningstjeneste Topco AS

28.11.2019

Morten Thorsrud CEO in If, and Hans Petter Semmelmann CEO in Viking

On 28 November 2019, the shareholders of Viking Redningstjeneste Topco AS (“Viking“) and If P&C Insurance Holding Ltd (publ) (the “Buyer“) signed an agreement regarding the Buyer’s acquisition of all the shares in Viking (the “Transaction“).

The acquisition price for 100 per cent of the shares in Viking is EUR 32 million (NOK 325 million) which is paid in cash. The enterprise value is EUR 114 million.

The Transaction is subject to approval by competition authorities in Norway and Sweden and is expected to be finalized early 2020.

Viking has issued two bonds dated 6 April 2017, NOK 500,000,000 senior first secured callable bonds under the name “Viking Redningstjeneste Topco AS 17/21 FRN C” and SEK 207,000,000 senior second secured callable bonds under the name “Viking Redningstjeneste Topco AS 17/21 FRN SEK C”. The bonds have been listed on Oslo Børs (Oslo Stock Exchange).

Carnegie AS acted as financial adviser and Advokatfirmaet Wiersholm AS acted as legal adviser to Viking and its shareholders in connection with the Transaction.

For further information, please contact:
Hans Petter Semmelmann, Group CEO
Telephone: +47 91 30 84 08