Altor, the private equity firm from Sweden said that it has entered into an agreement to sell its shareholdings in Euro Cater, the food services company from Denmark. The sale would be made to a consortium of reinvesting employees that have entered into a partnership with Intermediate Capital Group Plc.
In a statement, Altor said that the deal is expected to be finalized in the second quarter of 2013 and is subject to approval of competition regulatory bodies.
The financial adviser for the sale is JP Morgan while the legal advisor was Bech-Bruun for Euro Cater. As of 2012, Euro Cater reported to have sales revenue amounting to 7.2 billion Danish Crowns or US$1.26 billion.
Euro Cater is a food services enterprise that operates in Denmark and Sweden with a reported sales of 7.2 billion Danish crowns or US$1.26 billion in 2012.
Altor is a prvate equity firm that is focused on investing and developing companies throughout the Nordic region.
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