Mandatory offer for Rörvik Timber (SE) by Meerwind (SE) — SEK 425 million

Carnegie acted as adviser in the mandatory offer for Rörvik Timber by Meerwind. Meerwind is a wholly owned subsidiary of Clearwater Advisors Corp, the holding company of the Gunvor Group, one of the world’s major independent energy trading companies. Rörvik Timber is engaged in the processing of wood at nine production units in southern Sweden. June, 2010.