Deal round-up 22/03/02

Ratos divests Hilton share-holding; 3i and CapMan acquire Pretax

Ratos divests Hilton share-holding

Ratos AB, the Swedish private equity firm, has announced the disposal of its 1.1 per cent stake in Hilton Group, the UK-based hotelier.

The stake has been sold to Deutsche Bank for a total price of SEK600m (E66.6m), which equates to an exit gain of approximately E5.5m. Ratos acquired the shares as part of the sale to Hilton Group of Scandic Hotels in April 2001.

Ratos, listed on the Swedish stock exchange, has investments with a net asset value of E1bn.

3i and CapMan acquire Pretax

The Finnish operations of 3i and CapMan Capital Management, the Nordic venture capital firm, and have joined forces to arrange second round financing for Pretax, a Finnish accounting firm.

The total financing amounted to E10m, which has effectively given the two private equity houses equity control of the company. Debt financing was provided by Oko Bank, one of Finland's oldest and largest high street banks.

The deal was recently approved by the European Competition Commission.