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.
“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.
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Klarna offers safe and easy-to-use payment solutions to e-stores in Europe and was founded in 2005 with the ambition to make e-commerce safer and simpler. At the core of Klarna’s services is the concept of after delivery payment, which lets buyers receive ordered goods before any payment is due. At the same time, Klarna assumes the credit and fraud risk for e-stores so that sellers can rest assured that they will always receive their money. Klarna’s vision is to enable trust and to offer a frictionless buying experience to buyers and sellers across the world. Today, Klarna’s payment solutions are integrated by more than 18,000 online shops in Sweden, Norway, Denmark, Finland, Germany, Austria and the Netherlands.
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.