Clas Ohlson AB, the Sweden based do-it-yourself retailer and household brand, has agreed to acquire 91% of the shares in Spares Europe AB, the Sweden based electronical spare parts, accessories and batteries specialist company, from Verdane Capital Advisors AS, the Norway based private equity and venture capital firm. The purchase price corresponds to a valuation of approximately SEK 500m on a cash and debt free basis (EV) and a potential additional purchase price of up to SEK 225m. The transaction is subject to customary regulatory approvals and closing conditions.
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