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Klarna

Secondary sale

About the Client

Anralk is a holding company mutually owned and controlled by Investment AB Öresund and Creades AB, originally established to own the former Investment AB Öresund’s shares in Klarna.

 

About the Deal

GP Bullhound acted as the exclusive financial advisor to Anralk Holding AB (“Anralk”), a special purpose vehicle fully owned and controlled mutually by Investment AB Öresund and Creades AB, in the sale of their stake in the online payments company Klarna Holding AB (“Klarna”). The sale included several separate transactions with different international institutional counterparties, as well as the founders, over an eight-month period. The total transaction value amounted to SEK 470m and valued the online payments company at SEK 8bn.

 

Anralk was formed during the split of the former Investment AB Öresund into Investment AB Öresund and Creades AB, both publicly listed entities on the NASDAQ OMX Stockholm, as a holding company for former Investment AB Öresund’s stake in Klarna. The investment in Klarna was made in 2007 and constituted the company’s first institutional capital injection. Since then, investors such as Sequoia, General Atlantic and DST have supported the company. Prior to the sale, Anralk had a 6.8% undiluted ownership stake which has now been successfully divested in the transactions.

 

Quotes

“We are very pleased with the services GP Bullhound has provided in the sale of our holding in Klarna. GP Bullhound has throughout the process acted competently, with high accessibility and their relations with global institutional investors have been of great benefit in the transactions,” says Stefan Charette, CEO of Creades.