International law firm Bird & Bird has been advising the Swedish directory and internet search company Eniro AB on their SKr10.5bn ($1.3billion) acquisition of Findexa Ltd, its smaller Norwegian rival, creating the largest directory player in the Nordic region. A cross-border team of Bird & Bird lawyers were involved in this transaction which was also one of the largest Nordic deals this year.
As a result of the sale, Eniro will pay SKr 10.5 billion for Findexa. The deal itself was complicated by the fact that Findexa Ltd is registered in Jersey, but at the same time is listed on the Norwegian Stock Exchange in Oslo. Eniro itself has Swedish, UK and US investors and as such, the arrangement required legal advice from around the world.
Bird & Bird was the lead legal advisor on this deal. Swedish based corporate partner Mikael Engqvist, formerly Eniro’s Chief Legal Officer (where he was also responsible for their IPO in 2000), introduced the company to Bird & Bird when he joined the firm in 2004. Mikael managed and co-ordinated a legal team from firms in Sweden, Norway, the UK, Jersey and the US. He was assisted by corporate partner, Mark Pinder, based in Bird & Bird’s UK office, who led the cross-border issues arising from the UK and Jersey.
Commenting, Mikael Engqvist said:
“This acquisition represents a significant move for Eniro and we were delighted to be able to help out. We were able to field a strong team of corporate lawyers with the ability to not only handle complicated cross-border deals but with a deep appreciation of the commercial context of the deal itself having worked in Eniro’s sector for years. Having also seen Eniro through their IPO and having worked with them extensively since then, we know their business very well. This understanding made all the difference to getting this deal done effectively”.
For more information on this please contact Mikael Engqvist +46 8 506 32000 or Mark Pinder on 020 7415 6000. For more information on Bird & Bird, please contact Larry Cattle on +44 (0)20 7415 6156.