Acquisition of Hilding Anders AB (SE) by Investcorp (US) — Amount not disclosed.

Carnegie acted as adviser to the sellers in the acquisition of Hilding Anders by the investment firm Investcorp. Hilding Anders is one of Europe’s largest bed manufacturers, with 23 factories in 14 countries, including Belgium, Denmark, Finland, France, the Netherlands, Poland, Switzerland, the UK, Sweden, Germany and Hungary.December, 2003.