CapMan managed funds had entered into an agreement last September 23, 2013 to sell all their holdings in Nice Entertainment Group. Nice is a pan-Nordic television content production group that would be sold off to Modern Times Group MTG AB, one of the top entertainment broadcasting firms in Sweden.
The buyout would result in Nice becoming part of MTG's content and distribution subsidiary. Nice produces story telling shows for communication and entertainment purposes. Its three integrated business areas are television content production, event production and commercial production.
According to CapMan Buyout Senior Partners Olli Litola and Ari Tolppanen said, in a joint statement, "In the past five years, Nice has grown from a local Finnish player into a leading Nordic content producer. We have achieved significant milestones by attracting top taken into the group and creating fantastic productions with international potential. All of this would not have been possible without extraordinarily druiven and creative persons in all Nordic countries. CEO Morten Aass' excellent leadership skills and cooperation with the respective country managers has created a positive organisational culture, which is a precondition for successful growth."
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