Sale of Kotikatu (FI) to Norvestor (NO) by Vaaka Partners (FI) — Amount not disclosed

Carnegie acted as sole financial adviser to Vaaka Partners and other shareholders in connection with the sale of Kotikatu Holding to PHM Group, which is majority owned by a fund managed by Norvestor. Kotikatu is Finland’s largest property services company with approximately 6500 housing cooperatives as clients. September 2020.