FNG Nordic AB (publ) (the ”Company”) has been informed that holders of the Company’s listed SEK 1,500,000,000 bond loan, ISIN SE00128227996, have approved to amend the terms of the bond loan to allow for a change of control in the Company and that the bondholders waive certain rights due to such change.
The Company, which is the owner of Ellos Group, is currently owned by FNG Finance Belgium BV, which has certain financing arrangements with Cidron e-Com S.Ã.R.L. (”Cidron”), a company controlled by Nordic Capital.
The notice of the written procedure including the proposed amendments and waivers has previously been published on the bondholders representative’s, Nordic Trustee’s, website (www.nordictrustee.com).
The written procedure, which is a natural step in the strategic review of the Company and Ellos Group, is not expected to affect the Company other than that it will enable the Company’s existing financing to remain in the event of a change of control as set out above.
For more information:
Johan Stigson, CFO, Telephone. +46 (0)33 16 08 05
ABOUT ELLOS GROUP
The Ellos Group, which includes Ellos, Jotex, Stayhard, and Homeroom, is the Nordic region’s leading e-commerce group. Working closely with our millions of customers, we are constantly striving to develop and offer attractive and sustainable fashion and household items for the entire family. Our focus is always on the customer. We continuously work to develop our business through innovation, creativity, and sustainability. The Ellos Group, headquartered in Borås, and with operations in all Nordic countries, has around 550 employees and sales of around SEK 3.2 billion. www.ellosgroup.com