Millan Holding S.à r.l (“Millan”), a company ultimately owned by the EQT Mid Market fund (“EQT”) and its co-investors, has sold part of its shares and Vaaka Partners has sold its entire holding in Musti Group Oyj (“Musti”) in an accelerated book-building process. EQT and Vaaka Partners sold 7.5 million shares in Musti, corresponding to approximately 22.4% of all the outstanding shares in Musti.
The sale price in the share sale was EUR 15.80 per share and the gross sales proceeds of the share sale amounted to EUR 118.5 million. After the share sale, EQT owns 5.6% shares in Musti.
In connection with the share sale, EQT has entered into a lock-up undertaking, under which it has, subject to certain exceptions, agreed not to sell any shares in Musti for a period ending at 12 November 2020 or at the publication of the next interim report by Musti, whichever occurs earlier.
Carnegie acted as Joint Bookrunner in connection with the transaction.