Ratos, together with other owners, has decided on a refinancing of Bisnode, whereby Ratos will receive a cash payment of approximately SEK 605m. This refinancing has been made possible by the positive earnings trend in recent years.
Bisnode is a leading European supplier of digital business information and services within market, credit and product information. Operations are conducted in five business areas and the company has operations in 19 European countries. Bisnode has approximately 3,000 employees.
Bisnode has had a strong sales and earnings trend since Ratos's acquisition. Sales have risen by SEK 700m to approximately SEK 4,000m while the EBITA margin has increased from 12% in 2005 to 17% for the first nine months of 2007.
Ratos CEO, Arne Karlsson, comments: "Bisnode has seen favourable development for a long time and will post record earnings for 2007. The company has a strong balance sheet, good cash flows and our assessment is that the company's future prospects remain positive. Against this background we are now effecting a refinancing in order to give the company a more effective capital structure."
As result of the refinancing, Ratos will receive SEK 605m, of which SEK 360m will be paid in January and the remaining SEK 245m in April. Ratos's consolidated book value for Bisnode will therefore be adjusted downwards in conjunction with each payment, by a total of SEK 605m. The refinancing will have no impact on Ratos's earnings.
Ratos's holding in Bisnode amounts to 70%.
For further information, please contact:
Arne Karlsson, CEO Ratos, +46 8 700 17 00
Clara Bolinder-Lundberg, Head of Corporate Communications, Ratos, +46 8 700 17 63